Crane Co. (CR) Stake Lessened by LSV Asset Management

LSV Asset Management lessened its stake in Crane Co. (NYSE:CR) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,745 shares of the conglomerate’s stock after selling 41,600 shares during the quarter. LSV Asset Management’s holdings in Crane were worth $27,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Crane by 13.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock worth $115,195,000 after buying an additional 167,051 shares during the last quarter. State Street Corp raised its position in Crane by 2.1% in the 2nd quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock worth $102,771,000 after buying an additional 26,771 shares during the last quarter. Gabelli Funds LLC raised its position in Crane by 0.4% in the 3rd quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock worth $90,797,000 after buying an additional 4,000 shares during the last quarter. Victory Capital Management Inc. raised its position in Crane by 50.8% in the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after buying an additional 223,225 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Crane by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 647,568 shares of the conglomerate’s stock worth $51,798,000 after buying an additional 5,071 shares during the last quarter. 67.53% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on CR shares. Boenning Scattergood reissued a “hold” rating on shares of Crane in a research report on Tuesday, October 24th. Stifel Nicolaus boosted their target price on Crane from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Wolfe Research lowered Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Oppenheimer reissued a “buy” rating and issued a $92.00 target price (up previously from $88.00) on shares of Crane in a research report on Wednesday, October 25th. Finally, Bank of America boosted their target price on Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $106.28.

Shares of Crane Co. (CR) opened at $93.09 on Thursday. The stock has a market capitalization of $5,542.69, a PE ratio of 32.78, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. Crane Co. has a 52 week low of $70.56 and a 52 week high of $102.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.40 and a current ratio of 1.81.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.01. The business had revenue of $714.20 million during the quarter, compared to the consensus estimate of $702.50 million. Crane had a return on equity of 20.66% and a net margin of 6.17%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 EPS. equities research analysts anticipate that Crane Co. will post 5.41 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.35 per share. This is an increase from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, February 27th. Crane’s payout ratio is currently 46.48%.

In related news, Director James L. L. Tullis sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the completion of the transaction, the director now directly owns 2,110 shares in the company, valued at approximately $171,838.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Augustus I. Dupont sold 16,396 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total value of $1,602,545.04. Following the transaction, the vice president now owns 102,994 shares of the company’s stock, valued at $10,066,633.56. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

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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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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