Geode Capital Management LLC lifted its stake in Crane Co. (NYSE:CR) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 445,196 shares of the conglomerate’s stock after acquiring an additional 14,524 shares during the quarter. Geode Capital Management LLC owned 0.75% of Crane worth $39,720,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in shares of Crane by 6.1% in the fourth quarter. Amalgamated Bank now owns 10,105 shares of the conglomerate’s stock worth $902,000 after buying an additional 578 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Crane by 54.2% in the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after buying an additional 800 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Crane by 22.0% in the fourth quarter. M&T Bank Corp now owns 4,695 shares of the conglomerate’s stock worth $418,000 after buying an additional 846 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Crane by 51.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock worth $240,000 after buying an additional 917 shares during the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Crane by 18.3% in the fourth quarter. Synovus Financial Corp now owns 6,046 shares of the conglomerate’s stock worth $539,000 after buying an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.
Crane Co. (NYSE CR) opened at $94.52 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37. Crane Co. has a 1-year low of $70.56 and a 1-year high of $102.65. The firm has a market cap of $5,650.18, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The business had revenue of $714.20 million for the quarter, compared to the consensus estimate of $702.50 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. equities research analysts forecast that Crane Co. will post 5.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.40 annualized dividend and a yield of 1.48%. This is an increase from Crane’s previous quarterly dividend of $0.33. Crane’s payout ratio is currently 49.30%.
In other Crane news, VP Augustus I. Dupont sold 16,396 shares of Crane stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the transaction, the vice president now owns 102,994 shares of the company’s stock, valued at $10,066,633.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Thayer Bigelow sold 1,125 shares of Crane stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.74, for a total transaction of $106,582.50. The disclosure for this sale can be found here. Insiders have sold 46,861 shares of company stock worth $4,476,647 in the last ninety days. Insiders own 3.10% of the company’s stock.
CR has been the topic of a number of research reports. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Bank of America raised their price objective on shares of Crane from $104.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Oppenheimer reissued a “buy” rating on shares of Crane in a report on Tuesday, December 5th. Finally, UBS initiated coverage on shares of Crane in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $100.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $106.29.
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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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