Fruth Investment Management bought a new stake in Crane Co. (NYSE:CR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,300 shares of the conglomerate’s stock, valued at approximately $205,000.
Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in Crane by 7.8% during the second quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock worth $4,288,000 after buying an additional 3,894 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in Crane during the third quarter worth about $344,000. JPMorgan Chase & Co. increased its holdings in Crane by 23.7% during the second quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock worth $46,237,000 after buying an additional 111,581 shares during the last quarter. Victory Capital Management Inc. boosted its position in Crane by 50.8% during the third quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after purchasing an additional 223,225 shares during the period. Finally, AXA boosted its position in Crane by 3.6% during the third quarter. AXA now owns 113,700 shares of the conglomerate’s stock worth $9,095,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 68.30% of the company’s stock.
CR has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Canaccord Genuity restated a “buy” rating and issued a $95.00 price objective on shares of Crane in a research report on Tuesday, December 5th. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Bank of America lifted their target price on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Oppenheimer reiterated a “buy” rating on shares of Crane in a research report on Tuesday, December 5th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Crane presently has a consensus rating of “Buy” and a consensus target price of $93.83.
Crane Co. (NYSE CR) traded up $0.22 during mid-day trading on Tuesday, hitting $91.57. 251,900 shares of the company’s stock traded hands, compared to its average volume of 231,560. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. Crane Co. has a 52-week low of $67.62 and a 52-week high of $91.67. The stock has a market capitalization of $5,460.00, a P/E ratio of 40.88, a PEG ratio of 1.83 and a beta of 1.17.
Crane (NYSE:CR) last issued its earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $679.77 million. During the same period in the previous year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. equities analysts forecast that Crane Co. will post 4.53 EPS for the current fiscal year.
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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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