LS Investment Advisors LLC raised its position in shares of Crane Company (NYSE:CR) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,570 shares of the conglomerate’s stock after buying an additional 607 shares during the period. LS Investment Advisors LLC’s holdings in Crane were worth $363,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its position in shares of Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after buying an additional 3,955,159 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Crane by 148.3% in the first quarter. Systematic Financial Management LP now owns 661,439 shares of the conglomerate’s stock worth $49,495,000 after buying an additional 395,055 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock worth $114,772,000 after buying an additional 369,589 shares in the last quarter. Martingale Asset Management L P increased its position in shares of Crane by 1,062.7% in the first quarter. Martingale Asset Management L P now owns 279,219 shares of the conglomerate’s stock worth $20,895,000 after buying an additional 255,204 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in shares of Crane during the first quarter worth approximately $17,353,000. 69.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crane Company (NYSE:CR) traded up 0.50% on Friday, reaching $74.09. 229,163 shares of the company’s stock traded hands. The firm has a market capitalization of $4.42 billion, a P/E ratio of 33.75 and a beta of 1.10. The company’s 50-day moving average is $79.15 and its 200-day moving average is $76.75. Crane Company has a 52 week low of $59.81 and a 52 week high of $84.34.
Crane (NYSE:CR) last announced its earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.17. Crane had a net margin of 4.79% and a return on equity of 20.57%. The business had revenue of $702.50 million for the quarter, compared to analyst estimates of $702.53 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Crane’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Crane Company will post $4.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 31st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is presently 60.83%.
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CR has been the topic of a number of research reports. Canaccord Genuity raised shares of Crane from a “hold” rating to a “buy” rating and raised their target price for the company from $78.00 to $92.00 in a research note on Tuesday, May 16th. TheStreet raised shares of Crane from a “c+” rating to a “b+” rating in a research note on Monday, April 24th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $90.00 price target (up from $82.00) on shares of Crane in a report on Monday, May 1st. Finally, Stifel Nicolaus raised their price target on shares of Crane from $80.00 to $84.00 and gave the company a “hold” rating in a report on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.88.
In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.20, for a total value of $701,040.00. Following the sale, the vice president now owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Curtis A. Baron, Jr. sold 5,364 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $79.60, for a total transaction of $426,974.40. Following the completion of the sale, the vice president now directly owns 18,044 shares in the company, valued at approximately $1,436,302.40. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
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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