Crane Company (CR) Stake Decreased by Rhumbline Advisers
Rhumbline Advisers cut its stake in Crane Company (NYSE:CR) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,106 shares of the conglomerate’s stock after selling 1,396 shares during the period. Rhumbline Advisers owned approximately 0.16% of Crane worth $7,470,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in CR. BlackRock Inc. raised its position in Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after buying an additional 3,955,159 shares during the period. Systematic Financial Management LP raised its position in shares of Crane by 148.3% in the first quarter. Systematic Financial Management LP now owns 661,439 shares of the conglomerate’s stock valued at $49,495,000 after buying an additional 395,055 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock valued at $114,772,000 after buying an additional 369,589 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Crane by 1,062.7% in the first quarter. Martingale Asset Management L P now owns 279,219 shares of the conglomerate’s stock valued at $20,895,000 after buying an additional 255,204 shares during the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Crane by 66.9% in the first quarter. Gotham Asset Management LLC now owns 329,003 shares of the conglomerate’s stock valued at $24,619,000 after buying an additional 131,833 shares during the last quarter. Institutional investors own 70.61% of the company’s stock.
Crane Company (CR) opened at 73.67 on Friday. Crane Company has a 1-year low of $59.81 and a 1-year high of $84.34. The company has a 50-day moving average price of $77.62 and a 200 day moving average price of $76.73. The stock has a market cap of $4.39 billion, a P/E ratio of 33.56 and a beta of 1.10.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.17. The firm had revenue of $702.50 million for the quarter, compared to analyst estimates of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities analysts expect that Crane Company will post $4.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be paid a $0.33 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.79%. Crane’s payout ratio is currently 60.83%.
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Several equities analysts have recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 price target on shares of Crane in a research note on Friday, July 14th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Monday, July 17th. Wolfe Research started coverage on Crane in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. BidaskClub raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $90.00 target price (up from $82.00) on shares of Crane in a report on Monday, May 1st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Crane has a consensus rating of “Buy” and a consensus target price of $76.88.
In other news, VP Kristian Robert Salovaara sold 9,200 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.20, for a total value of $701,040.00. Following the sale, the vice president now owns 24,786 shares in the company, valued at $1,888,693.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.
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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