Advisors Asset Management Inc. cut its stake in Crane Co. (NYSE:CR) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,726 shares of the conglomerate’s stock after selling 5,195 shares during the period. Advisors Asset Management Inc. owned approximately 0.11% of Crane worth $5,505,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in shares of Crane by 12.3% in the 4th quarter. ProShare Advisors LLC now owns 4,555 shares of the conglomerate’s stock valued at $393,000 after purchasing an additional 498 shares during the last quarter. Beck Bode LLC increased its stake in shares of Crane by 21.5% in the 3rd quarter. Beck Bode LLC now owns 53,556 shares of the conglomerate’s stock valued at $4,318,000 after purchasing an additional 9,478 shares during the last quarter. Citigroup Inc. increased its stake in shares of Crane by 106.4% in the 4th quarter. Citigroup Inc. now owns 14,821 shares of the conglomerate’s stock valued at $1,280,000 after purchasing an additional 7,641 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Crane in the 4th quarter valued at $15,632,000. Finally, Maverick Capital Ltd. bought a new position in shares of Crane in the 3rd quarter valued at $1,088,000. 69.25% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on CR shares. Stifel Nicolaus lifted their price target on Crane from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Buckingham Research upgraded Crane from a “neutral” rating to a “buy” rating and lifted their price target for the company from $79.00 to $86.00 in a research note on Wednesday, January 29th. DA Davidson decreased their price target on Crane from to in a research note on Tuesday. UBS Group began coverage on Crane in a research note on Wednesday, December 11th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, ValuEngine upgraded Crane from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $89.20.
Shares of CR opened at $46.01 on Thursday. The company has a market capitalization of $2.70 billion, a PE ratio of 21.30 and a beta of 1.51. Crane Co. has a 12 month low of $36.77 and a 12 month high of $91.23. The stock’s 50-day moving average price is $69.29 and its two-hundred day moving average price is $79.50. The company has a current ratio of 1.64, a quick ratio of 1.14 and a debt-to-equity ratio of 0.57.
Crane (NYSE:CR) last announced its earnings results on Monday, January 27th. The conglomerate reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.01. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $825.81 million. Crane had a return on equity of 22.65% and a net margin of 4.06%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. Equities research analysts predict that Crane Co. will post 6.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Friday, February 28th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from Crane’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, February 27th. Crane’s payout ratio is currently 28.57%.
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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