UBS Asset Management Americas Inc. trimmed its position in Crane Co. (NYSE:CR) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,958 shares of the conglomerate’s stock after selling 1,768 shares during the quarter. UBS Asset Management Americas Inc. owned 0.08% of Crane worth $4,279,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ClariVest Asset Management LLC grew its holdings in shares of Crane by 54.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after purchasing an additional 800 shares in the last quarter. Fruth Investment Management acquired a new stake in shares of Crane during the 4th quarter worth $205,000. Levin Capital Strategies L.P. acquired a new stake in shares of Crane during the 4th quarter worth $208,000. Vident Investment Advisory LLC acquired a new stake in shares of Crane during the 3rd quarter worth $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Crane by 51.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 917 shares in the last quarter. 69.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Crane Co. (CR) opened at $95.03 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37. Crane Co. has a 1 year low of $70.56 and a 1 year high of $102.65. The firm has a market capitalization of $5,719.37, a price-to-earnings ratio of 21.17, a P/E/G ratio of 1.33 and a beta of 1.23.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors 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 dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 27th. Crane’s dividend payout ratio is currently 49.30%.
Several research firms have recently issued reports on CR. Canaccord Genuity reissued a “buy” rating and set a $110.00 target price on shares of Crane in a report on Monday. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Boenning Scattergood reissued a “neutral” rating on shares of Crane in a report on Monday, February 26th. Finally, Oppenheimer reissued a “buy” rating and set a $105.00 target price (up from $92.00) on shares of Crane in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $106.29.
In other Crane news, VP James A. Lavish sold 12,984 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $94.90, for a total value of $1,232,181.60. Following the completion of the transaction, the vice president now directly owns 16,997 shares in the company, valued at $1,613,015.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Thayer Bigelow sold 1,125 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $94.74, for a total value of $106,582.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,861 shares of company stock valued at $4,476,647. 3.10% of the stock is owned by corporate insiders.
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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