Crane Company (CR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Crane Company (NYSE:CR) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 647,568 shares of the conglomerate’s stock after buying an additional 5,071 shares during the period. Bank of New York Mellon Corp owned 1.09% of Crane worth $51,798,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC boosted 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 valued at $127,000 after buying an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $141,000 after buying an additional 140 shares in the last quarter. Global X Management Co. LLC boosted 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 valued at $148,000 after buying an additional 1,282 shares in the last quarter. Howe & Rusling Inc. boosted 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 valued at $180,000 after buying an additional 1,057 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Crane in the 2nd quarter valued at $204,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Shares of Crane Company (CR) opened at $83.38 on Monday. Crane Company has a 52 week low of $67.62 and a 52 week high of $86.67. The company has a market cap of $4,948.59, a price-to-earnings ratio of 19.08, a PEG ratio of 1.82 and a beta of 1.17. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54.

Crane (NYSE:CR) last released its earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The company had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. During the same quarter last year, the business earned $1.07 EPS. The business’s revenue was up .2% on a year-over-year basis. equities research analysts expect that Crane Company will post 4.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio (DPR) is presently 59.19%.

A number of analysts recently weighed in on CR shares. Wolfe Research upgraded shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. BidaskClub cut shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating on shares of Crane in a research note on Monday, September 25th. Finally, Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Crane presently has an average rating of “Buy” and an average price target of $93.33.

In other news, Director James L. L. Tullis sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the sale, the director now owns 2,110 shares in the company, valued at approximately $171,838.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The disclosure for this sale can be found here. Insiders sold a total of 22,403 shares of company stock valued at $1,896,288 in the last 90 days. Company insiders own 3.10% of the company’s stock.

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About Crane

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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