First Trust Advisors LP acquired a new stake in shares of Crane Co. (NYSE:CR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,860 shares of the conglomerate’s stock, valued at approximately $1,166,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. acquired a new position in Crane in the 2nd quarter valued at approximately $1,078,000. Wells Fargo & Company MN increased its stake in Crane by 22.8% in the 2nd quarter. Wells Fargo & Company MN now owns 398,468 shares of the conglomerate’s stock valued at $31,929,000 after buying an additional 74,081 shares during the period. KBC Group NV acquired a new position in Crane in the 2nd quarter valued at approximately $156,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Crane in the 2nd quarter valued at approximately $1,098,000. Finally, Engineers Gate Manager LP acquired a new position in Crane in the 2nd quarter valued at approximately $1,229,000. Institutional investors own 70.26% of the company’s stock.
Shares of CR opened at $79.17 on Friday. Crane Co. has a 12 month low of $78.71 and a 12 month high of $102.65. The firm has a market cap of $4.92 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.33. The company has a current ratio of 1.68, a quick ratio of 1.19 and a debt-to-equity ratio of 0.61.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $855.87 million. During the same quarter in the prior year, the business posted $1.13 EPS. Crane’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts forecast that Crane Co. will post 5.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. Crane’s dividend payout ratio (DPR) is 30.91%.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating and set a $93.00 price objective on the stock in a research note on Wednesday, October 24th. Stifel Nicolaus upped their price objective 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, UBS Group upped their price objective 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Crane has an average rating of “Buy” and a consensus target price of $108.13.
In other news, Director James L. L. Tullis acquired 400 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average cost of $90.62 per share, with a total value of $36,248.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kristian Robert Salovaara sold 13,367 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $89.53, for a total transaction of $1,196,747.51. Following the sale, the vice president now directly owns 34,863 shares of the company’s stock, valued at $3,121,284.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,767 shares of company stock worth $1,885,878. 3.00% of the stock is currently owned by company insiders.
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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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