Insider Selling: Crane Company (CR) VP Sells 3,556 Shares of Stock
Crane Company (NYSE:CR) VP Augustus I. Dupont sold 3,556 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $83.89, for a total transaction of $298,312.84. Following the transaction, the vice president now directly owns 80,560 shares of the company’s stock, valued at approximately $6,758,178.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The firm had revenue of $695.90 million for the quarter, compared to analyst estimates of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share.
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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, November 29th. Crane’s payout ratio is presently 59.19%.
Several equities analysts recently commented on CR shares. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Monday, July 17th. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Scotiabank reaffirmed a “buy” rating on shares of Crane in a research report on Tuesday, October 10th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $92.00 price target (up previously from $88.00) on shares of Crane in a research report on Wednesday, October 25th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Crane currently has a consensus rating of “Buy” and an average target price of $81.63.
Institutional investors and hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position in Crane by 33.3% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after acquiring an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Crane by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after acquiring an additional 140 shares in the last quarter. Global X Management Co. LLC raised its position in Crane by 221.0% during the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock valued at $148,000 after acquiring an additional 1,282 shares in the last quarter. Howe & Rusling Inc. raised its position in Crane by 88.5% during the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after acquiring an additional 1,057 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Crane during the second quarter valued at approximately $204,000. 68.92% of the stock is currently owned by hedge funds and other institutional investors.
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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