Piedmont Investment Advisors LLC continued to hold its stake in Crane Company (NYSE:CR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,500 shares of the conglomerate’s stock at the end of the first quarter. Piedmont Investment Advisors LLC’s holdings in Crane were worth $486,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Comerica Bank increased its stake in Crane by 9.3% in the fourth quarter. Comerica Bank now owns 38,535 shares of the conglomerate’s stock worth $2,844,000 after buying an additional 3,269 shares during the period. State Street Corp increased its stake in Crane by 2.9% in the fourth quarter. State Street Corp now owns 1,306,170 shares of the conglomerate’s stock worth $94,203,000 after buying an additional 37,057 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Crane by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,382 shares of the conglomerate’s stock worth $532,000 after buying an additional 40 shares during the period. Martingale Asset Management L P bought a new stake in Crane during the fourth quarter worth about $1,732,000. Finally, Federated Investors Inc. PA increased its stake in Crane by 16.2% in the fourth quarter. Federated Investors Inc. PA now owns 31,538 shares of the conglomerate’s stock worth $2,274,000 after buying an additional 4,395 shares during the period. Institutional investors and hedge funds own 69.10% of the company’s stock.
Shares of Crane Company (NYSE CR) opened at 83.35 on Tuesday. Crane Company has a one year low of $57.80 and a one year high of $84.00. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 37.87 and a beta of 1.11. The stock has a 50 day moving average of $78.37 and a 200-day moving average of $75.51.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, April 24th. The conglomerate reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. Crane had a return on equity of 20.85% and a net margin of 4.74%. The business had revenue of $673.40 million for the quarter, compared to the consensus estimate of $655.84 million. During the same quarter in the prior year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts expect that Crane Company will post $4.51 earnings per share for the current year.
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Several research firms have recently weighed in on CR. William Blair upgraded shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 25th. Stifel Nicolaus boosted their price objective on shares of Crane from $80.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday, April 26th. TheStreet raised shares of Crane from a “c+” rating to a “b+” rating in a research note on Monday, April 24th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $90.00 price objective (up previously from $82.00) on shares of Crane in a research note on Monday, May 1st. Finally, Canaccord Genuity raised shares of Crane from a “hold” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $92.00 in a research note on Tuesday, May 16th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Crane currently has an average rating of “Buy” and a consensus target price of $75.33.
In other Crane news, VP Curtis A. Baron, Jr. sold 5,364 shares of Crane stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $79.60, for a total value of $426,974.40. Following the transaction, the vice president now directly owns 18,044 shares in the company, valued at approximately $1,436,302.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard A. Maue sold 14,528 shares of Crane stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $79.83, for a total value of $1,159,770.24. Following the completion of the transaction, the vice president now owns 28,906 shares in the company, valued at $2,307,565.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,392 shares of company stock worth $2,109,190. Company 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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