Nordea Investment Management AB grew its position in Crane Company (NYSE:CR) by 15.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,220 shares of the conglomerate’s stock after buying an additional 3,878 shares during the period. Nordea Investment Management AB’s holdings in Crane were worth $2,337,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Crane by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock valued at $326,871,000 after purchasing an additional 95,817 shares during the last quarter. BlackRock Inc. raised its position in Crane by 2.0% during the 2nd quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock worth $323,668,000 after buying an additional 80,055 shares during the last quarter. Principal Financial Group Inc. raised its position in Crane by 13.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock worth $115,195,000 after buying an additional 167,051 shares during the last quarter. State Street Corp raised its position in Crane by 2.1% during the 2nd quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock worth $102,771,000 after buying an additional 26,771 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in Crane by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock worth $90,797,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.
Crane Company (NYSE CR) opened at $82.54 on Wednesday. The company has a market capitalization of $4,979.46, a price-to-earnings ratio of 19.20, a PEG ratio of 1.84 and a beta of 1.17. Crane Company has a fifty-two week low of $67.62 and a fifty-two week high of $86.67. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million for the quarter, compared to analyst estimates of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. research analysts expect that Crane Company will post 4.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s dividend payout ratio is presently 59.19%.
A number of equities research analysts have recently commented on the stock. Wolfe Research raised shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Boenning Scattergood reissued a “hold” rating on shares of Crane in a research note on Monday, October 2nd. BidaskClub cut shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $84.00 target price on shares of Crane in a research note on Wednesday, October 4th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Crane currently has an average rating of “Buy” and a consensus target price of $93.33.
In other news, Director E Thayer Bigelow sold 1,067 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $82.79, for a total transaction of $88,336.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James L. L Tullis sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total value of $162,880.00. Following the transaction, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,403 shares of company stock valued at $1,896,288. Corporate insiders own 3.10% of the company’s stock.
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Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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