Texas Permanent School Fund Lowers Stake in Crane Co. (CR)

Texas Permanent School Fund lowered its stake in shares of Crane Co. (NYSE:CR) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,753 shares of the conglomerate’s stock after selling 810 shares during the quarter. Texas Permanent School Fund owned 0.05% of Crane worth $2,624,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in shares of Crane by 33.5% during the 4th quarter. Macquarie Group Ltd. now owns 11,210 shares of the conglomerate’s stock valued at $1,000,000 after buying an additional 2,810 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Crane by 199.9% during the 1st quarter. Global X Management Co. LLC now owns 12,252 shares of the conglomerate’s stock valued at $1,136,000 after purchasing an additional 8,167 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Crane during the 1st quarter valued at $2,089,000. Lord Abbett & CO. LLC grew its holdings in shares of Crane by 23.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 688,180 shares of the conglomerate’s stock valued at $63,822,000 after purchasing an additional 132,033 shares during the last quarter. Finally, Elk Creek Partners LLC grew its holdings in shares of Crane by 27.9% during the 1st quarter. Elk Creek Partners LLC now owns 66,899 shares of the conglomerate’s stock valued at $6,204,000 after purchasing an additional 14,580 shares during the last quarter. Hedge funds and other institutional investors own 69.03% of the company’s stock.

Several research firms recently commented on CR. UBS Group raised shares of Crane from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, July 30th. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, July 27th. ValuEngine raised shares of Crane from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Finally, DA Davidson set a $111.00 target price on shares of Crane and gave the company a “buy” rating in a report on Friday, May 25th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Crane presently has a consensus rating of “Buy” and a consensus price target of $106.44.

In other Crane news, VP Curtis A. Baron, Jr. sold 5,199 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $90.87, for a total value of $472,433.13. Following the sale, the vice president now owns 7,230 shares of the company’s stock, valued at approximately $656,990.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard A. Maue sold 13,150 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $89.04, for a total transaction of $1,170,876.00. Following the completion of the sale, the chief financial officer now directly owns 55,390 shares in the company, valued at approximately $4,931,925.60. The disclosure for this sale can be found here. In the last three months, insiders sold 65,768 shares of company stock worth $5,869,807. Insiders own 3.00% of the company’s stock.

Crane opened at $89.57 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.12 and a current ratio of 1.60. Crane Co. has a 52 week low of $71.23 and a 52 week high of $102.65. The firm has a market cap of $5.32 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.30.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 23rd. The conglomerate reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. The business had revenue of $851.00 million for the quarter, compared to analyst estimates of $834.45 million. Crane had a net margin of 6.17% and a return on equity of 21.72%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. research analysts expect that Crane Co. will post 5.76 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Thursday, August 30th. Crane’s dividend payout ratio (DPR) is presently 30.91%.

Crane Profile

Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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