Fmr LLC increased its stake in Crane Co. (NYSE:CR) by 37.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,205,673 shares of the conglomerate’s stock after acquiring an additional 326,859 shares during the period. Fmr LLC owned approximately 2.02% of Crane worth $96,610,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CR. KBC Group NV acquired a new position in Crane during the second quarter valued at approximately $156,000. Paloma Partners Management Co bought a new stake in Crane during the second quarter valued at $229,000. Sawtooth Solutions LLC bought a new stake in Crane during the second quarter valued at $233,000. Hilltop Holdings Inc. bought a new stake in Crane during the second quarter valued at $263,000. Finally, Hartford Investment Management Co. bought a new stake in Crane during the second quarter valued at $273,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Brendan Curran sold 3,000 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $91.07, for a total transaction of $273,210.00. Following the completion of the transaction, the insider now owns 14,346 shares of the company’s stock, valued at $1,306,490.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James L. L Tullis purchased 400 shares of Crane stock in a transaction dated Monday, November 5th. The shares were purchased at an average cost of $90.62 per share, with a total value of $36,248.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 23,767 shares of company stock valued at $2,159,088. Corporate insiders own 3.00% of the company’s stock.
Several analysts have weighed in on CR shares. UBS Group boosted their target price on shares of Crane from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Stifel Nicolaus boosted their target price on shares of Crane from $115.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, ValuEngine upgraded shares of Crane from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $108.13.
Shares of CR opened at $92.66 on Friday. Crane Co. has a 1 year low of $78.93 and a 1 year high of $102.65. The firm has a market cap of $5.53 billion, a PE ratio of 20.45, a PEG ratio of 1.65 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.68 and a quick ratio of 1.19.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.16. Crane had a net margin of 6.76% and a return on equity of 23.29%. The company had revenue of $855.80 million during the quarter, compared to the consensus estimate of $855.87 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, analysts anticipate that Crane Co. will post 5.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, November 29th. Crane’s dividend payout ratio (DPR) is 30.91%.
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Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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