APG Asset Management N.V. bought a new position in Crane Company (NYSE:CR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 73,700 shares of the conglomerate’s stock, valued at approximately $5,895,000. APG Asset Management N.V. owned 0.12% of Crane at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of CR. Acrospire Investment Management LLC lifted its holdings in shares of Crane by 33.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after buying an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Crane by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after buying an additional 140 shares during the period. Global X Management Co. LLC lifted its holdings in shares of Crane by 221.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after buying an additional 1,282 shares during the period. Howe & Rusling Inc. lifted its holdings in shares of Crane by 88.5% in the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after buying an additional 1,057 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Crane in the 2nd quarter worth $204,000. Institutional investors and hedge funds own 68.92% of the company’s stock.
In other Crane news, VP Edward S. Switter sold 7,000 shares of the business’s stock in a transaction dated 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 owns 23,873 shares in the company, valued at approximately $1,767,318.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director E Thayer Bigelow sold 6,000 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,403 shares of company stock worth $2,693,998 over the last ninety days. 3.10% of the stock is currently owned by corporate insiders.
Crane Company (NYSE CR) opened at $84.37 on Friday. Crane Company has a 1 year low of $66.29 and a 1 year high of $86.67. The stock has a market capitalization of $5,028.54, a PE ratio of 19.31, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66.
Crane (NYSE:CR) last announced its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The company had revenue of $695.90 million for the quarter, compared to analyst estimates of $679.77 million. During the same period in the prior year, the company posted $1.07 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. equities analysts predict that Crane Company will post 4.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s dividend payout ratio is currently 59.19%.
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Several research analysts have recently commented on the company. Canaccord Genuity reissued a “buy” rating on shares of Crane in a research report on Friday. Seaport Global Securities raised Crane from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $78.00 to $95.00 in a research report on Thursday, October 26th. Bank of America Corporation boosted their price target on Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $92.00 price target (up from $88.00) on shares of Crane in a research report on Wednesday, October 25th. Finally, Wolfe Research lowered Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Crane presently has a consensus rating of “Buy” and an average target price of $81.63.
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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