LSV Asset Management Has $4.49 Million Position in Crane Co. (CR)
LSV Asset Management decreased its holdings in Crane Co. (NYSE:CR) by 49.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,200 shares of the conglomerate’s stock after selling 60,800 shares during the quarter. LSV Asset Management’s holdings in Crane were worth $4,489,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its holdings in Crane by 37.1% in the third quarter. BlackRock Inc. now owns 6,077,199 shares of the conglomerate’s stock valued at $597,691,000 after buying an additional 1,645,668 shares during the period. Vanguard Group Inc. raised its holdings 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 valued at $435,315,000 after purchasing an additional 41,941 shares during the period. Vanguard Group Inc raised its holdings 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 valued at $435,315,000 after purchasing an additional 41,941 shares during the period. FMR LLC raised its holdings in shares of Crane by 37.2% during the second quarter. FMR LLC now owns 1,205,673 shares of the conglomerate’s stock valued at $96,610,000 after purchasing an additional 326,859 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Crane by 3.4% during the third quarter. AQR Capital Management LLC now owns 974,158 shares of the conglomerate’s stock valued at $95,809,000 after purchasing an additional 32,169 shares during the period. 70.38% of the stock is currently owned by institutional investors.
In other Crane news, insider Louis V. Pinkham sold 55,103 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $85.03, for a total value of $4,685,408.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James A. Lavish sold 5,150 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $84.94, for a total transaction of $437,441.00. The disclosure for this sale can be found here. Insiders sold a total of 71,149 shares of company stock worth $6,026,127 in the last 90 days. 3.00% of the stock is currently owned by company insiders.
Crane (NYSE:CR) last posted its earnings results on Monday, January 28th. The conglomerate reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.10. Crane had a net margin of 10.03% and a return on equity of 24.54%. The company had revenue of $839.70 million for the quarter, compared to analyst estimates of $862.96 million. During the same quarter in the prior year, the business posted $1.18 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. Equities analysts forecast that Crane Co. will post 6.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Thursday, February 28th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Wednesday, February 27th. This is a positive change from Crane’s previous quarterly dividend of $0.35. Crane’s dividend payout ratio is currently 23.37%.
Several equities analysts have recently weighed in on CR shares. Raymond James reiterated a “hold” rating on shares of Crane in a report on Thursday, January 10th. BMO Capital Markets reiterated a “buy” rating on shares of Crane in a report on Friday, January 11th. ValuEngine lowered shares of Crane from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Buckingham Research started coverage on shares of Crane in a report on Monday, December 10th. They set a “buy” rating and a $93.00 price objective on the stock. Finally, GMP Securities reiterated a “hold” rating on shares of Crane in a report on Thursday, February 14th. Seven 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 price target of $88.66.
Crane Company Profile
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.
Want to see what other hedge funds are holding CR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crane Co. (NYSE:CR).
Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.