Augustus I. Dupont Sells 11,130 Shares of Crane Company (CR) Stock
Crane Company (NYSE:CR) VP Augustus I. Dupont sold 11,130 shares of Crane stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total value of $960,296.40. Following the transaction, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Crane Company (NYSE CR) traded down 2.94% during trading on Monday, hitting $82.82. The stock had a trading volume of 365,533 shares. The company has a 50-day moving average of $80.17 and a 200-day moving average of $78.33. Crane Company has a 52 week low of $66.29 and a 52 week high of $86.67. The stock has a market capitalization of $4.94 billion, a P/E ratio of 37.73 and a beta of 1.11.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The company had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Crane Company will post $4.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be given a $0.33 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.59%. Crane’s dividend payout ratio (DPR) is presently 59.19%.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Crane by 2.4% in the second quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock worth $326,871,000 after buying an additional 95,817 shares in the last quarter. BlackRock Inc. raised its position in shares of Crane by 2.0% in the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock worth $323,668,000 after buying an additional 80,055 shares in the last quarter. State Street Corp raised its position in shares of Crane by 2.1% in the second quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock worth $102,771,000 after buying an additional 26,771 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Crane by 115.7% in the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after buying an additional 682,934 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Crane by 50.8% in the third quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after buying an additional 223,225 shares in the last quarter. Institutional investors own 68.92% of the company’s stock.
CR has been the subject of several research analyst reports. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Monday, July 17th. BidaskClub upgraded Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Scotiabank restated a “buy” rating on shares of Crane in a research note on Tuesday, October 10th. Finally, Oppenheimer Holdings Inc. restated a “buy” rating and issued a $92.00 price target (up from $88.00) on shares of Crane in a research note on Wednesday, October 25th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $81.63.
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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