TD Asset Management Inc. cut its holdings in shares of Crane Co. (NYSE:CR) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,800 shares of the conglomerate’s stock after selling 1,000 shares during the period. TD Asset Management Inc.’s holdings in Crane were worth $1,587,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Janney Capital Management LLC increased its stake in Crane by 11.4% during the second quarter. Janney Capital Management LLC now owns 5,928 shares of the conglomerate’s stock worth $475,000 after purchasing an additional 609 shares during the period. Mason Street Advisors LLC grew its position in shares of Crane by 2.5% during the first quarter. Mason Street Advisors LLC now owns 25,464 shares of the conglomerate’s stock worth $2,362,000 after buying an additional 610 shares in the last quarter. Brinker Capital Inc. grew its position in shares of Crane by 8.4% during the first quarter. Brinker Capital Inc. now owns 9,971 shares of the conglomerate’s stock worth $925,000 after buying an additional 773 shares in the last quarter. Stifel Financial Corp grew its position in shares of Crane by 3.1% during the first quarter. Stifel Financial Corp now owns 28,343 shares of the conglomerate’s stock worth $2,626,000 after buying an additional 847 shares in the last quarter. Finally, Bailard Inc. grew its position in shares of Crane by 2.0% during the first quarter. Bailard Inc. now owns 45,973 shares of the conglomerate’s stock worth $4,264,000 after buying an additional 885 shares in the last quarter. Institutional investors own 69.34% of the company’s stock.
Shares of CR opened at $89.75 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.60 and a quick ratio of 1.12. The company has a market capitalization of $5.33 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.62 and a beta of 1.30. Crane Co. has a 52-week low of $71.33 and a 52-week high of $102.65.
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, beating the Zacks’ consensus estimate of $1.35 by $0.06. The firm had revenue of $851.00 million during the quarter, compared to the consensus estimate of $834.45 million. Crane had a return on equity of 21.72% and a net margin of 6.17%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 earnings per share. sell-side analysts predict that Crane Co. will post 5.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors 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 of this dividend is Thursday, August 30th. Crane’s dividend payout ratio (DPR) is 30.91%.
In other Crane news, insider Bradley Ellis sold 11,763 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $90.53, for a total value of $1,064,904.39. Following the completion of the sale, the insider now owns 164,937 shares in the company, valued at $14,931,746.61. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Edward S. Switter sold 6,654 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $88.83, for a total value of $591,074.82. Following the completion of the sale, the vice president now owns 26,098 shares of the company’s stock, valued at approximately $2,318,285.34. The disclosure for this sale can be found here. Insiders sold 80,531 shares of company stock valued at $7,204,051 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on CR shares. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Thursday, May 17th. DA Davidson set a $111.00 price objective on Crane and gave the stock a “buy” rating in a research report on Friday, May 25th. UBS Group raised Crane from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, July 30th. Finally, ValuEngine downgraded Crane from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $106.44.
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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