BKS Advisors LLC acquired a new position in shares of Crane Co. (NYSE:CR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,500 shares of the conglomerate’s stock, valued at approximately $212,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new stake in Crane during the fourth quarter worth about $34,000. Quantamental Technologies LLC acquired a new stake in Crane during the fourth quarter worth about $42,000. Enlightenment Research LLC acquired a new stake in Crane during the fourth quarter worth about $43,000. SRS Capital Advisors Inc. increased its position in Crane by 183.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 749 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 485 shares during the last quarter. Finally, ETF Managers Group LLC increased its position in Crane by 17.3% during the fourth quarter. ETF Managers Group LLC now owns 1,422 shares of the conglomerate’s stock worth $103,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 69.08% of the company’s stock.
Shares of CR opened at $88.34 on Wednesday. Crane Co. has a 1-year low of $67.18 and a 1-year high of $100.14. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.22 and a beta of 1.37. The company has a quick ratio of 1.29, a current ratio of 1.84 and a debt-to-equity ratio of 0.62.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, January 28th. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.10. Crane had a net margin of 10.03% and a return on equity of 24.54%. The business had revenue of $839.70 million during the quarter, compared to analysts’ expectations of $862.96 million. During the same period last year, the business earned $1.18 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities research analysts predict that Crane Co. will post 6.35 earnings per share for the current fiscal year.
In other news, insider Louis V. Pinkham sold 55,103 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $85.03, for a total value of $4,685,408.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James A. Lavish sold 10,896 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $82.90, for a total transaction of $903,278.40. Following the completion of the transaction, the vice president now directly owns 23,527 shares of the company’s stock, valued at approximately $1,950,388.30. The disclosure for this sale can be found here. In the last three months, insiders sold 71,149 shares of company stock valued at $6,026,127. Insiders own 3.39% of the company’s stock.
A number of equities research analysts have weighed in on CR shares. Seaport Global Securities reiterated a “buy” rating and set a $105.00 price target on shares of Crane in a research report on Wednesday, January 30th. Stifel Nicolaus set a $100.00 price target on shares of Crane and gave the company a “buy” rating in a research report on Tuesday, January 29th. BMO Capital Markets reiterated a “buy” rating on shares of Crane in a research report on Friday, January 11th. Desjardins reiterated a “buy” rating on shares of Crane in a research report on Thursday, March 7th. Finally, UBS Group lifted their price target on shares of Crane from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Crane currently has a consensus rating of “Buy” and a consensus target price of $96.27.
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Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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