Citigroup Inc. lowered its position in Crane Co. (NYSE:CR) by 19.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,973 shares of the conglomerate’s stock after selling 4,288 shares during the quarter. Citigroup Inc.’s holdings in Crane were worth $1,296,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Crane by 17.7% during the 4th quarter. BlackRock Inc. now owns 7,150,304 shares of the conglomerate’s stock valued at $516,111,000 after buying an additional 1,073,105 shares in the last quarter. Vanguard Group Inc. grew its holdings in Crane by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,426,179 shares of the conglomerate’s stock valued at $435,315,000 after buying an additional 41,941 shares in the last quarter. Vanguard Group Inc grew its holdings in Crane by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 4,426,179 shares of the conglomerate’s stock valued at $435,315,000 after buying an additional 41,941 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Crane by 3.9% during the 4th quarter. Victory Capital Management Inc. now owns 994,867 shares of the conglomerate’s stock valued at $71,809,000 after buying an additional 37,570 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Crane by 3.4% during the 3rd quarter. AQR Capital Management LLC now owns 974,158 shares of the conglomerate’s stock valued at $95,809,000 after buying an additional 32,169 shares in the last quarter. 68.56% of the stock is owned by institutional investors.
Shares of CR opened at $82.86 on Friday. The stock has a market cap of $4.95 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The company has a quick ratio of 1.28, a current ratio of 1.84 and a debt-to-equity ratio of 0.62. Crane Co. has a 12-month low of $67.18 and a 12-month high of $100.14.
Crane (NYSE:CR) last released its earnings results on Monday, January 28th. The conglomerate reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.10. The company had revenue of $839.70 million during the quarter, compared to the consensus estimate of $862.96 million. Crane had a return on equity of 24.54% and a net margin of 10.03%. Crane’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS. On average, equities analysts forecast that Crane Co. will post 6.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 28th were given a $0.39 dividend. This is an increase from Crane’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $1.56 dividend on an annualized basis and a yield of 1.88%. Crane’s payout ratio is presently 26.04%.
In related news, VP James A. Lavish sold 10,896 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $82.90, for a total value of $903,278.40. Following the completion of the sale, the vice president now owns 23,527 shares in the company, valued at approximately $1,950,388.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James A. Lavish sold 5,150 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $84.94, for a total value of $437,441.00. The disclosure for this sale can be found here. Insiders sold a total of 71,149 shares of company stock valued at $6,026,127 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on the company. Desjardins reaffirmed a “buy” rating on shares of Crane in a report on Thursday, March 7th. GMP Securities reiterated a “hold” rating on shares of Crane in a research report on Thursday, February 14th. CIBC reiterated a “hold” rating on shares of Crane in a research report on Friday, February 1st. Seaport Global Securities reiterated a “buy” rating and set a $105.00 price target on shares of Crane in a research report on Wednesday, January 30th. Finally, ValuEngine upgraded Crane from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $96.89.
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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