Picton Mahoney Asset Management trimmed its holdings in shares of Crane Co. (NYSE:CR) by 5.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 33,500 shares of the conglomerate’s stock after selling 2,000 shares during the period. Picton Mahoney Asset Management’s holdings in Crane were worth $3,294,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Janney Capital Management LLC lifted its holdings in shares of Crane by 11.4% during the 2nd quarter. Janney Capital Management LLC now owns 5,928 shares of the conglomerate’s stock worth $475,000 after acquiring an additional 609 shares during the period. Creative Planning lifted its holdings in shares of Crane by 3.0% during the 3rd quarter. Creative Planning now owns 24,878 shares of the conglomerate’s stock worth $2,447,000 after acquiring an additional 714 shares during the period. Arizona State Retirement System lifted its holdings in shares of Crane by 2.1% during the 3rd quarter. Arizona State Retirement System now owns 35,970 shares of the conglomerate’s stock worth $3,538,000 after acquiring an additional 737 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Crane by 9.1% during the 2nd quarter. Brown Advisory Inc. now owns 8,898 shares of the conglomerate’s stock worth $713,000 after acquiring an additional 744 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Crane by 4.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,748 shares of the conglomerate’s stock worth $1,582,000 after acquiring an additional 771 shares during the period. 68.84% of the stock is owned by institutional investors.
In related news, VP Kristian Robert Salovaara sold 13,367 shares of Crane stock in a transaction dated 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 transaction, the vice president now directly owns 34,863 shares of the company’s stock, valued at approximately $3,121,284.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brendan Curran sold 3,000 shares of Crane stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $91.07, for a total transaction of $273,210.00. Following the transaction, the insider now directly owns 14,346 shares of the company’s stock, valued at $1,306,490.22. The disclosure for this sale can be found here. Insiders have sold a total of 19,367 shares of company stock valued at $1,749,228 over the last three months. 3.00% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company 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. Stifel Nicolaus raised their price objective on shares of Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, UBS Group raised shares of Crane from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday, July 30th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $108.13.
Shares of CR stock opened at $94.04 on Friday. Crane Co. has a 12-month low of $78.93 and a 12-month high of $102.65. The stock has a market cap of $5.40 billion, a P/E ratio of 20.76, a PEG ratio of 1.61 and a beta of 1.31. The company has a quick ratio of 1.19, a current ratio of 1.68 and a debt-to-equity ratio of 0.61.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $855.87 million. During the same period last year, the firm posted $1.13 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities research analysts expect that Crane Co. will post 5.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, November 29th. Crane’s dividend payout ratio is currently 30.91%.
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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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