Parametric Portfolio Associates LLC cut its stake in Crane Co. (NYSE:CR) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,477 shares of the conglomerate’s stock after selling 14,895 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Crane were worth $10,449,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Crane by 1.0% during the third quarter. Vanguard Group Inc now owns 4,426,179 shares of the conglomerate’s stock worth $435,315,000 after acquiring an additional 41,941 shares during the last quarter. Strs Ohio grew its position in shares of Crane by 11.4% during the fourth quarter. Strs Ohio now owns 4,772 shares of the conglomerate’s stock worth $344,000 after acquiring an additional 490 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Crane by 3.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,739 shares of the conglomerate’s stock worth $342,000 after acquiring an additional 180 shares during the last quarter. Rhumbline Advisers grew its position in shares of Crane by 44.6% during the fourth quarter. Rhumbline Advisers now owns 134,592 shares of the conglomerate’s stock worth $9,715,000 after acquiring an additional 41,512 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Crane by 3.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,784 shares of the conglomerate’s stock worth $345,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 69.51% of the company’s stock.
In other Crane news, Director James L. L Tullis purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $78.13 per share, with a total value of $78,130.00. Following the acquisition, the director now owns 1,110 shares of the company’s stock, valued at $86,724.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.39% of the stock is currently owned by corporate insiders.
Shares of CR opened at $81.43 on Friday. The stock has a market capitalization of $4.81 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Crane Co. has a 52-week low of $67.18 and a 52-week high of $100.14.
Crane (NYSE:CR) last announced its earnings results on Monday, April 29th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. The firm had revenue of $831.70 million during the quarter, compared to analyst estimates of $792.39 million. Crane had a net margin of 10.34% and a return on equity of 24.49%. Crane’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. Equities research analysts expect that Crane Co. will post 6.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 31st were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.56 dividend on an annualized basis and a yield of 1.92%. Crane’s dividend payout ratio is presently 26.04%.
CR has been the subject of several recent research reports. GMP Securities restated a “hold” rating on shares of Crane in a research report on Thursday, February 14th. Desjardins restated a “buy” rating on shares of Crane in a research report on Thursday, March 7th. Buckingham Research upped their price target on shares of Crane from $101.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, UBS Group increased their target price on shares of Crane from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $93.02.
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Crane Company Profile
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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