Victory Capital Management Inc. lowered its position in shares of Crane Co. (NYSE:CR) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 957,297 shares of the conglomerate’s stock after selling 28,959 shares during the period. Victory Capital Management Inc.’s holdings in Crane were worth $94,150,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in CR. WBI Investments Inc. bought a new stake in Crane in the 3rd quarter worth approximately $2,912,000. Robecosam AG grew its position in Crane by 12.5% in the 3rd quarter. Robecosam AG now owns 267,582 shares of the conglomerate’s stock worth $26,252,000 after purchasing an additional 29,823 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in Crane by 19.5% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 25,030 shares of the conglomerate’s stock worth $2,462,000 after purchasing an additional 4,080 shares during the period. Sageworth Trust Co grew its position in Crane by 466.7% in the 3rd quarter. Sageworth Trust Co now owns 1,700 shares of the conglomerate’s stock worth $167,000 after purchasing an additional 1,400 shares during the period. Finally, Arizona State Retirement System grew its position in Crane by 2.1% in the 3rd quarter. Arizona State Retirement System now owns 35,970 shares of the conglomerate’s stock worth $3,538,000 after purchasing an additional 737 shares during the period. 68.32% of the stock is owned by institutional investors.
A number of research firms have commented on CR. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, July 27th. ValuEngine raised shares of Crane from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Stifel Nicolaus lifted their target price on shares of Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Finally, UBS Group raised shares of Crane from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, July 30th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Crane presently has an average rating of “Buy” and an average target price of $108.13.
Shares of Crane stock opened at $90.96 on Friday. The firm has a market cap of $5.42 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31. Crane Co. has a 1-year low of $78.93 and a 1-year high of $102.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.19 and a current ratio of 1.68.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.16. The business had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $855.87 million. Crane had a net margin of 6.76% and a return on equity of 23.29%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 EPS. As a group, equities analysts expect that Crane Co. will post 5.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 29th. Crane’s dividend payout ratio is presently 30.91%.
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including 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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