Sit Investment Associates Inc. increased its position in shares of Crane Co. (NYSE:CR) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,225 shares of the company’s stock after buying an additional 200 shares during the period. Sit Investment Associates Inc.’s holdings in Crane were worth $1,544,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capstone Asset Management Co. boosted its position in shares of Crane by 0.7% in the second quarter. Capstone Asset Management Co. now owns 5,679 shares of the company’s stock worth $322,000 after buying an additional 40 shares during the last quarter. Oakbrook Investments LLC boosted its position in Crane by 16.0% in the second quarter. Oakbrook Investments LLC now owns 5,081 shares of the company’s stock worth $288,000 after buying an additional 700 shares in the last quarter. Reinhart Partners Inc. boosted its position in Crane by 3.5% in the second quarter. Reinhart Partners Inc. now owns 24,700 shares of the company’s stock worth $1,401,000 after buying an additional 840 shares in the last quarter. LS Investment Advisors LLC boosted its position in Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock worth $173,000 after buying an additional 1,305 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Crane by 18.9% in the first quarter. Aperio Group LLC now owns 11,496 shares of the company’s stock worth $619,000 after buying an additional 1,828 shares in the last quarter. 67.40% of the stock is owned by institutional investors.
Crane Co. (NYSE:CR) traded down 0.56% during trading on Tuesday, hitting $60.72. The stock had a trading volume of 265,581 shares. The company has a 50-day moving average of $63.03 and a 200 day moving average of $59.07. Crane Co. has a 52 week low of $41.68 and a 52 week high of $65.88. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 14.60 and a beta of 1.37.
Crane (NYSE:CR) last released its earnings results on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.19. The company had revenue of $712.20 million for the quarter, compared to analyst estimates of $697.13 million. Crane had a return on equity of 21.25% and a net margin of 9.01%. Crane’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 EPS. On average, equities research analysts anticipate that Crane Co. will post ($0.17) EPS for the current year.
A number of research firms recently issued reports on CR. Royal Bank Of Canada lifted their price target on Crane from $57.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, July 27th. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Crane in a report on Friday, August 5th. Bank of America Corp. raised Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Friday, July 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $60.00 price target on shares of Crane in a report on Friday, June 17th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Crane currently has a consensus rating of “Hold” and an average target price of $62.00.
In related news, Director Philip R. Lochner sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $64.90, for a total value of $259,600.00. Following the sale, the director now directly owns 2,350 shares of the company’s stock, valued at $152,515. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Louis V. Pinkham sold 16,576 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $65.32, for a total value of $1,082,744.32. Following the completion of the sale, the insider now directly owns 20,449 shares in the company, valued at $1,335,728.68. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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