Brandywine Global Investment Management LLC lessened its position in shares of Crane Co. (NYSE:CR) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 145,101 shares of the conglomerate’s stock after selling 24,679 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.24% of Crane worth $12,946,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. acquired a new stake in shares of Crane in the third quarter valued at about $344,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Crane by 51.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 917 shares during the period. AXA grew its position in shares of Crane by 3.6% in the third quarter. AXA now owns 113,700 shares of the conglomerate’s stock valued at $9,095,000 after purchasing an additional 4,000 shares during the period. Legal & General Group Plc grew its position in shares of Crane by 9.8% in the third quarter. Legal & General Group Plc now owns 59,302 shares of the conglomerate’s stock valued at $4,744,000 after purchasing an additional 5,274 shares during the period. Finally, HAP Trading LLC acquired a new stake in shares of Crane in the third quarter valued at about $3,120,000. Institutional investors own 69.36% of the company’s stock.
Crane Co. (CR) opened at $95.89 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.81 and a quick ratio of 1.40. The firm has a market cap of $5,760.00, a PE ratio of 22.30, a PEG ratio of 1.35 and a beta of 1.23. Crane Co. has a 52 week low of $70.56 and a 52 week high of $102.65.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This is an increase from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. Crane’s payout ratio is 32.56%.
In other Crane news, VP Augustus I. Dupont sold 16,396 shares of Crane stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the transaction, the vice president now directly owns 102,994 shares of the company’s stock, valued at $10,066,633.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brendan Curran sold 16,356 shares of Crane stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $93.87, for a total transaction of $1,535,337.72. Following the transaction, the insider now directly owns 27,702 shares in the company, valued at $2,600,386.74. The disclosure for this sale can be found here. Insiders have sold 46,861 shares of company stock worth $4,476,647 over the last ninety days. 3.10% of the stock is owned by insiders.
Several brokerages have recently issued reports on CR. Oppenheimer reiterated a “buy” rating and issued a $105.00 target price (up previously from $92.00) on shares of Crane in a research report on Wednesday, January 31st. Canaccord Genuity decreased their price target on shares of Crane from $100.00 to $99.95 in a research note on Wednesday, January 31st. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Bank of America raised their price target on shares of Crane from $104.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $106.29.
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Crane Company Profile
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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