Quantitative Investment Management LLC bought a new position in shares of Crane Co. (NYSE:CR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,400 shares of the conglomerate’s stock, valued at approximately $5,299,000. Quantitative Investment Management LLC owned 0.10% of Crane as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. BlueCrest Capital Management Ltd purchased a new stake in shares of Crane during the 4th quarter valued at $375,000. Thrivent Financial For Lutherans lifted its holdings in shares of Crane by 439.7% during the 4th quarter. Thrivent Financial For Lutherans now owns 220,104 shares of the conglomerate’s stock valued at $19,638,000 after purchasing an additional 179,324 shares during the last quarter. Nicholas Investment Partners LP lifted its holdings in shares of Crane by 38.5% during the 4th quarter. Nicholas Investment Partners LP now owns 63,200 shares of the conglomerate’s stock valued at $5,639,000 after purchasing an additional 17,582 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Crane during the 4th quarter valued at $10,358,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Crane by 456.2% during the 4th quarter. Alliancebernstein L.P. now owns 162,943 shares of the conglomerate’s stock valued at $14,538,000 after purchasing an additional 133,649 shares during the last quarter. Institutional investors own 69.36% of the company’s stock.
In other news, Director E Thayer Bigelow sold 1,125 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.74, for a total transaction of $106,582.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Augustus I. Dupont sold 16,396 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $97.74, for a total value of $1,602,545.04. Following the sale, the vice president now owns 102,994 shares in the company, valued at $10,066,633.56. The disclosure for this sale can be found here. Insiders have sold a total of 46,861 shares of company stock worth $4,476,647 over the last ninety days. 3.10% of the stock is owned by insiders.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.01. The company had revenue of $714.20 million for the quarter, compared to the consensus estimate of $702.50 million. Crane had a return on equity of 20.66% and a net margin of 6.17%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. equities analysts anticipate that Crane Co. will post 5.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.35 per share. This is an increase from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 27th. Crane’s dividend payout ratio (DPR) is currently 49.30%.
A number of equities analysts recently issued reports on CR shares. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Friday, March 2nd. UBS Group started coverage on Crane in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $100.00 target price for the company. Stifel Nicolaus restated a “hold” rating and issued a $99.00 target price (up previously from $87.00) on shares of Crane in a research note on Tuesday, January 16th. Finally, Oppenheimer restated a “buy” rating on shares of Crane in a research note on Tuesday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $106.29.
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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