Quantitative Investment Management LLC acquired a new stake in shares of Crane Co. (NYSE:CR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 59,400 shares of the conglomerate’s stock, valued at approximately $5,299,000. Quantitative Investment Management LLC owned approximately 0.10% of Crane at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of CR. ClariVest Asset Management LLC lifted its stake in Crane by 54.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 800 shares in the last quarter. Fruth Investment Management bought a new stake in shares of Crane during the 4th quarter worth $205,000. Levin Capital Strategies L.P. bought a new stake in shares of Crane during the 4th quarter worth $208,000. Vident Investment Advisory LLC bought a new stake in shares of Crane during the 3rd quarter worth $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Crane by 51.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 917 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.
Shares of CR stock traded up $0.16 on Wednesday, reaching $95.43. The company had a trading volume of 42,522 shares, compared to its average volume of 293,719. Crane Co. has a 52 week low of $70.56 and a 52 week high of $102.65. The stock has a market cap of $5,637.66, a price-to-earnings ratio of 33.67, a P/E/G ratio of 1.31 and a beta of 1.23. 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 (NYSE:CR) last announced its quarterly earnings data on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.01. Crane had a return on equity of 20.66% and a net margin of 6.17%. The company had revenue of $714.20 million during the quarter, compared to analyst estimates of $702.50 million. During the same quarter last year, the firm posted $1.02 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. sell-side analysts predict that Crane Co. will post 5.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Wednesday, February 28th were issued a $0.35 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.40 annualized dividend and a yield of 1.47%. This is a positive change from Crane’s previous quarterly dividend of $0.33. Crane’s dividend payout ratio (DPR) is 49.30%.
CR has been the topic of a number of recent analyst reports. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Oppenheimer reiterated a “buy” rating on shares of Crane in a research note on Tuesday, December 5th. Canaccord Genuity reiterated a “buy” rating and set a $95.00 target price on shares of Crane in a research note on Tuesday, December 5th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $99.00 target price (up from $87.00) on shares of Crane in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Crane currently has an average rating of “Buy” and an average target price of $106.29.
In other Crane news, Director E Thayer Bigelow sold 1,125 shares of Crane stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.74, for a total transaction of $106,582.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brendan Curran sold 16,356 shares of Crane stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $93.87, for a total value of $1,535,337.72. Following the transaction, the insider now directly owns 27,702 shares of the company’s stock, valued at approximately $2,600,386.74. The disclosure for this sale can be found here. In the last three months, insiders sold 46,861 shares of company stock valued at $4,476,647. 3.10% of the stock is currently owned by insiders.
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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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