Crane Company (NYSE:CR) VP Kristian Robert Salovaara sold 9,200 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the completion of the transaction, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Crane Company (CR) traded up 0.16% on Friday, hitting $73.49. 226,053 shares of the stock traded hands. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 33.48 and a beta of 1.10. The stock has a 50-day moving average price of $78.52 and a 200 day moving average price of $76.76. Crane Company has a 12-month low of $59.81 and a 12-month 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. On average, analysts anticipate that Crane Company will post $4.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 31st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is currently 60.83%.
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A number of institutional investors have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its position in shares of Crane by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,932 shares of the conglomerate’s stock worth $788,000 after buying an additional 27 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Crane by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,382 shares of the conglomerate’s stock worth $586,000 after buying an additional 38 shares in the last quarter. Profund Advisors LLC increased its stake in Crane by 0.6% in the first quarter. Profund Advisors LLC now owns 6,861 shares of the conglomerate’s stock worth $513,000 after buying an additional 43 shares in the last quarter. Palo Capital Inc. increased its stake in Crane by 0.4% in the first quarter. Palo Capital Inc. now owns 10,729 shares of the conglomerate’s stock worth $803,000 after buying an additional 44 shares in the last quarter. Finally, Bragg Financial Advisors Inc increased its stake in Crane by 0.3% in the first quarter. Bragg Financial Advisors Inc now owns 27,275 shares of the conglomerate’s stock worth $2,041,000 after buying an additional 70 shares in the last quarter. 70.61% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on CR. TheStreet raised shares of Crane from a “c+” rating to a “b+” rating in a research report on Monday, April 24th. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Thursday, May 18th. Canaccord Genuity raised shares of Crane from a “hold” rating to a “buy” rating and upped their price target for the stock from $78.00 to $92.00 in a research report on Tuesday, May 16th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Crane presently has an average rating of “Buy” and an average target price of $76.88.
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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