Crane Co. (NYSE:CR) insider Louis V. Pinkham sold 4,400 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $93.15, for a total value of $409,860.00. Following the transaction, the insider now owns 23,545 shares in the company, valued at approximately $2,193,216.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Crane stock traded down $1.38 during midday trading on Friday, reaching $92.66. The stock had a trading volume of 179,327 shares, compared to its average volume of 391,575. Crane Co. has a 1-year low of $78.93 and a 1-year high of $102.65. The firm has a market cap of $5.53 billion, a PE ratio of 20.45, a P/E/G ratio of 1.65 and a beta of 1.31. 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 (NYSE:CR) last announced its earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.16. Crane had a return on equity of 23.29% and a net margin of 6.76%. The business had revenue of $855.80 million for the quarter, compared to analyst estimates of $855.87 million. During the same quarter last year, the firm earned $1.13 EPS. Crane’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, equities research analysts predict that Crane Co. will post 5.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, November 29th. Crane’s dividend payout ratio is presently 30.91%.
CR has been the topic of a number of research analyst reports. UBS Group raised their price target on Crane from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Stifel Nicolaus raised their price target on Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Finally, ValuEngine raised Crane from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Crane presently has an average rating of “Buy” and a consensus price target of $108.13.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Crane by 37.1% in the 3rd quarter. BlackRock Inc. now owns 6,077,199 shares of the conglomerate’s stock valued at $597,691,000 after buying an additional 1,645,668 shares during the last quarter. Principal Financial Group Inc. grew its stake in Crane by 7.9% in the first quarter. Principal Financial Group Inc. now owns 1,423,710 shares of the conglomerate’s stock valued at $132,035,000 after purchasing an additional 103,741 shares in the last quarter. FMR LLC grew its stake in Crane by 37.2% in the second quarter. FMR LLC now owns 1,205,673 shares of the conglomerate’s stock valued at $96,610,000 after purchasing an additional 326,859 shares in the last quarter. Victory Capital Management Inc. grew its stake in Crane by 7.5% in the second quarter. Victory Capital Management Inc. now owns 986,256 shares of the conglomerate’s stock valued at $79,028,000 after purchasing an additional 68,539 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Crane by 9.1% in the third quarter. Alliancebernstein L.P. now owns 518,929 shares of the conglomerate’s stock valued at $51,037,000 after purchasing an additional 43,382 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.
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Crane Company 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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