Natixis cut its position in shares of Crane Co. (NYSE:CR) by 22.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 120,336 shares of the conglomerate’s stock after selling 35,207 shares during the period. Natixis’ holdings in Crane were worth $10,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. ETF Managers Group LLC boosted its holdings in shares of Crane by 9.4% in the 1st quarter. ETF Managers Group LLC now owns 1,555 shares of the conglomerate’s stock valued at $132,000 after buying an additional 133 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Crane by 3.0% in the first quarter. Crossmark Global Holdings Inc. now owns 4,879 shares of the conglomerate’s stock worth $413,000 after acquiring an additional 140 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Crane by 3.1% in the second quarter. Janney Montgomery Scott LLC now owns 4,701 shares of the conglomerate’s stock valued at $392,000 after acquiring an additional 140 shares during the period. MetLife Investment Advisors LLC boosted its stake in Crane by 0.5% in the first quarter. MetLife Investment Advisors LLC now owns 30,969 shares of the conglomerate’s stock valued at $2,621,000 after acquiring an additional 158 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Crane by 8.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,140 shares of the conglomerate’s stock valued at $181,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 69.23% of the company’s stock.
CR has been the topic of a number of research reports. DA Davidson increased their price target on Crane from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Buckingham Research boosted their price objective on Crane from $97.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, ValuEngine lowered Crane from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Crane presently has an average rating of “Hold” and a consensus target price of $95.88.
In other news, VP James A. Lavish sold 650 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $86.36, for a total transaction of $56,134.00. Following the transaction, the vice president now directly owns 16,359 shares of the company’s stock, valued at $1,412,763.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.39% of the company’s stock.
Shares of NYSE CR traded up $0.86 during midday trading on Wednesday, hitting $81.92. 97,515 shares of the company’s stock were exchanged, compared to its average volume of 244,116. Crane Co. has a twelve month low of $67.18 and a twelve month high of $100.14. The firm has a market cap of $4.86 billion, a P/E ratio of 13.68, a PEG ratio of 1.99 and a beta of 1.37. The stock’s 50 day moving average price is $78.38 and its 200-day moving average price is $82.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.17 and a quick ratio of 1.50.
Crane (NYSE:CR) last posted its earnings results on Monday, July 22nd. The conglomerate reported $1.58 EPS for the quarter, beating the consensus estimate of $1.55 by $0.03. The firm had revenue of $841.60 million for the quarter, compared to analysts’ expectations of $833.30 million. Crane had a return on equity of 24.24% and a net margin of 10.67%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.41 EPS. On average, analysts expect that Crane Co. will post 6.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Saturday, August 31st were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.56 annualized dividend and a dividend yield of 1.90%. Crane’s payout ratio is 26.04%.
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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