Sit Investment Associates Inc. lessened its stake in Crane Co. (NYSE:CR) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,050 shares of the conglomerate’s stock after selling 2,350 shares during the quarter. Sit Investment Associates Inc.’s holdings in Crane were worth $2,413,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fruth Investment Management acquired a new position in shares of Crane during the 4th quarter valued at $205,000. AXA lifted its holdings in shares of Crane by 3.6% during the 3rd quarter. AXA now owns 113,700 shares of the conglomerate’s stock valued at $9,095,000 after acquiring an additional 4,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Crane by 30.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 104,969 shares of the conglomerate’s stock valued at $8,396,000 after acquiring an additional 24,646 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Crane by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 135,312 shares of the conglomerate’s stock valued at $10,824,000 after acquiring an additional 4,412 shares in the last quarter. Finally, Janney Capital Management LLC lifted its holdings in shares of Crane by 43.7% during the 3rd quarter. Janney Capital Management LLC now owns 4,752 shares of the conglomerate’s stock valued at $380,000 after acquiring an additional 1,444 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.
In related news, VP Augustus I. Dupont sold 11,130 shares of Crane stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $86.28, for a total transaction of $960,296.40. Following the sale, the vice president now owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the sale, the director now directly owns 2,110 shares in the company, valued at approximately $171,838.40. The disclosure for this sale can be found here. Insiders have sold a total of 22,403 shares of company stock worth $1,896,288 in the last ninety days. 3.10% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on CR shares. Bank of America lifted their target price on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Canaccord Genuity restated a “buy” rating on shares of Crane in a report on Friday, November 3rd. Oppenheimer restated a “buy” rating on shares of Crane in a report on Tuesday, December 5th. Finally, Scotiabank restated a “buy” rating on shares of Crane in a report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Crane currently has a consensus rating of “Buy” and an average target price of $93.83.
Shares of Crane Co. (NYSE:CR) opened at $92.28 on Friday. Crane Co. has a one year low of $67.62 and a one year high of $92.71. The stock has a market cap of $5,476.82, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. analysts expect that Crane Co. will post 4.53 earnings per share for the current fiscal year.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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