Tudor Investment Corp ET AL Reduces Stake in Crane Company (NYSE:CR)

Tudor Investment Corp ET AL cut its position in shares of Crane Company (NYSE:CR) by 55.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,618 shares of the conglomerate’s stock after selling 4,544 shares during the period. Tudor Investment Corp ET AL’s holdings in Crane were worth $271,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. increased its stake in shares of Crane by 6.1% in the first quarter. Perkins Capital Management Inc. now owns 8,700 shares of the conglomerate’s stock valued at $651,000 after buying an additional 500 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Crane by 91.7% in the first quarter. Meadow Creek Investment Management LLC now owns 12,512 shares of the conglomerate’s stock valued at $936,000 after buying an additional 5,984 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Crane by 2.0% in the first quarter. State Treasurer State of Michigan now owns 20,432 shares of the conglomerate’s stock valued at $1,529,000 after buying an additional 400 shares during the last quarter. TD Asset Management Inc. acquired a new stake in shares of Crane during the first quarter valued at $2,245,000. Finally, American International Group Inc. increased its stake in shares of Crane by 12.3% in the first quarter. American International Group Inc. now owns 138,511 shares of the conglomerate’s stock valued at $10,365,000 after buying an additional 15,217 shares during the last quarter. 70.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of Crane Company (CR) traded up 0.16% on Friday, hitting $73.49. 226,053 shares of the stock traded hands. Crane Company has a 12-month low of $59.81 and a 12-month high of $84.34. The firm has a market cap of $4.38 billion, a P/E ratio of 33.48 and a beta of 1.10. The firm’s 50-day moving average is $78.52 and its 200 day moving average is $76.76.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.17. The company 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Equities research analysts forecast that Crane Company will post $4.47 EPS for the current fiscal year.

The company 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 dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.80%. Crane’s dividend payout ratio is currently 60.83%.

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Several brokerages recently weighed in on CR. Stifel Nicolaus reaffirmed a “hold” rating and set a $85.00 target price on shares of Crane in a research note on Friday, July 14th. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Monday, July 17th. Wolfe Research began coverage on shares of Crane in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, TheStreet raised shares of Crane from a “c+” rating to a “b+” rating in a research note on Monday, April 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $76.88.

In related news, VP Kristian Robert Salovaara sold 9,200 shares of Crane 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 completion of the sale, the vice president now owns 24,786 shares in the company, valued at $1,888,693.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.

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.

Institutional Ownership by Quarter for Crane (NYSE:CR)

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