Bridgewater Associates LP purchased a new stake in Crane Company (NYSE:CR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,098 shares of the conglomerate’s stock, valued at approximately $246,000.
Other large investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado grew its position in 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 acquiring an additional 27 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position 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 acquiring an additional 38 shares during the period. Bragg Financial Advisors Inc grew its position 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 acquiring an additional 70 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in Crane by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,664 shares of the conglomerate’s stock worth $648,000 after acquiring an additional 71 shares during the period. Finally, World Asset Management Inc grew its position in Crane by 2.4% in the first quarter. World Asset Management Inc now owns 3,093 shares of the conglomerate’s stock worth $231,000 after acquiring an additional 72 shares during the period. 69.42% of the stock is owned by hedge funds and other institutional investors.
In related news, Director E Thayer Bigelow sold 6,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $73.73, for a total transaction of $442,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Edward S. Switter sold 7,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total transaction of $518,210.00. Following the sale, the vice president now directly owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,200 shares of company stock valued at $1,661,630. 3.10% of the stock is owned by corporate insiders.
Crane Company (NYSE CR) opened at 76.77 on Tuesday. The company has a 50-day moving average price of $74.55 and a 200-day moving average price of $76.86. Crane Company has a 12-month low of $59.81 and a 12-month high of $84.34. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 34.97 and a beta of 1.11.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.17. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. During the same period in the prior year, the company earned $1.21 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Crane Company will post $4.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 31st were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.72%. Crane’s dividend payout ratio (DPR) is 60.83%.
CR has been the subject of several analyst reports. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $84.00 price objective on shares of Crane in a research report on Thursday, July 6th. BidaskClub upgraded Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Wolfe Research initiated coverage on Crane in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently 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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