RPG Investment Advisory LLC lessened its holdings in Crane Co. (NYSE:CR) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,201 shares of the conglomerate’s stock after selling 1,630 shares during the quarter. RPG Investment Advisory LLC owned approximately 0.09% of Crane worth $5,527,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CR. Legal & General Group Plc boosted its stake in shares of Crane by 9.3% in the 1st quarter. Legal & General Group Plc now owns 69,611 shares of the conglomerate’s stock valued at $6,455,000 after purchasing an additional 5,906 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Crane by 7.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,423,710 shares of the conglomerate’s stock worth $132,035,000 after acquiring an additional 103,741 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Crane by 40.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,490 shares of the conglomerate’s stock worth $439,000 after acquiring an additional 1,570 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Crane during the 2nd quarter worth approximately $1,250,000. Finally, Retirement Systems of Alabama boosted its stake in Crane by 1.1% during the 2nd quarter. Retirement Systems of Alabama now owns 126,789 shares of the conglomerate’s stock worth $10,160,000 after acquiring an additional 1,374 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.
CR traded up $0.33 during trading on Wednesday, reaching $91.18. The company had a trading volume of 29,499 shares, compared to its average volume of 413,274. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.19 and a current ratio of 1.68. Crane Co. has a 12 month low of $78.93 and a 12 month high of $102.65. The firm has a market cap of $5.42 billion, a P/E ratio of 20.13, a PEG ratio of 1.61 and a beta of 1.31.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.16. Crane had a net margin of 6.76% and a return on equity of 23.29%. The firm had revenue of $855.80 million for the quarter, compared to analyst estimates of $855.87 million. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that Crane Co. will post 5.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.54%. Crane’s dividend payout ratio (DPR) is presently 30.91%.
In other news, insider Brendan Curran sold 3,000 shares of Crane stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $91.07, for a total value of $273,210.00. Following the sale, the insider now directly owns 14,346 shares in the company, valued at $1,306,490.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kristian Robert Salovaara sold 13,367 shares of Crane stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $89.53, for a total transaction of $1,196,747.51. Following the completion of the sale, the vice president now owns 34,863 shares in the company, valued at $3,121,284.39. The disclosure for this sale can be found here. Insiders sold 28,130 shares of company stock worth $2,534,862 over the last quarter. 3.00% of the stock is owned by corporate insiders.
CR has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. UBS Group lifted their price objective on shares of Crane from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, July 27th. Finally, ValuEngine raised shares of Crane from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $108.13.
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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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