Tocqueville Asset Management L.P. lessened its stake in shares of Crane Co. (NYSE:CR) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,400 shares of the conglomerate’s stock after selling 5,000 shares during the period. Tocqueville Asset Management L.P. owned 0.14% of Crane worth $8,104,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of CR. Sageworth Trust Co raised its holdings in Crane by 466.7% in the 3rd quarter. Sageworth Trust Co now owns 1,700 shares of the conglomerate’s stock valued at $167,000 after buying an additional 1,400 shares during the period. KBC Group NV purchased a new stake in Crane in the 2nd quarter valued at about $156,000. CIBC Asset Management Inc purchased a new stake in Crane in the 3rd quarter valued at about $209,000. Oppenheimer & Co. Inc. purchased a new stake in Crane in the 3rd quarter valued at about $221,000. Finally, PEAK6 Investments LLC purchased a new stake in Crane in the 3rd quarter valued at about $224,000. Institutional investors and hedge funds own 70.26% of the company’s stock.
In other Crane news, insider Louis V. Pinkham sold 4,400 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $93.15, for a total transaction of $409,860.00. Following the sale, the insider now directly owns 23,545 shares in the company, valued at $2,193,216.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James L. L. Tullis acquired 400 shares of the stock in a transaction dated Monday, November 5th. The shares were bought 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. Insiders have sold 20,767 shares of company stock worth $1,885,878 over the last quarter. Insiders own 3.00% of the company’s stock.
Several analysts recently issued reports on CR shares. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. UBS Group boosted their price objective on shares of Crane from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Finally, Stifel Nicolaus boosted their price objective on shares of Crane from $115.00 to $117.00 and gave the company a “buy” rating in a report on Monday, October 8th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Crane has a consensus rating of “Buy” and a consensus target price of $108.13.
Shares of NYSE:CR opened at $79.17 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.19 and a current ratio of 1.68. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.44 and a beta of 1.33. Crane Co. has a 1 year low of $78.71 and a 1 year high of $102.65.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.16. The company had revenue of $855.80 million for the quarter, compared to analyst estimates of $855.87 million. Crane had a net margin of 6.76% and a return on equity of 23.29%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. Analysts anticipate that Crane Co. will post 5.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.77%. Crane’s dividend payout ratio (DPR) is presently 30.91%.
Crane Company Profile
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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