Teacher Retirement System of Texas boosted its position in shares of Crane Co. (NYSE:CR) by 13.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,501 shares of the company’s stock after buying an additional 788 shares during the period. Teacher Retirement System of Texas’ holdings in Crane were worth $369,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Crane by 2.5% in the first quarter. State Street Corp now owns 1,229,273 shares of the company’s stock worth $66,209,000 after buying an additional 29,426 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Crane by 61.6% in the first quarter. Renaissance Technologies LLC now owns 352,400 shares of the company’s stock worth $18,980,000 after buying an additional 134,300 shares during the last quarter. LSV Asset Management boosted its position in shares of Crane by 58.5% in the second quarter. LSV Asset Management now owns 406,488 shares of the company’s stock worth $23,055,000 after buying an additional 150,040 shares during the last quarter. Robecosam AG boosted its position in shares of Crane by 16.1% in the first quarter. Robecosam AG now owns 153,319 shares of the company’s stock worth $8,321,000 after buying an additional 21,291 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Crane by 94.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,683 shares of the company’s stock worth $1,173,000 after buying an additional 10,030 shares during the last quarter. Institutional investors own 67.40% of the company’s stock.
Shares of Crane Co. (NYSE:CR) opened at 60.75 on Tuesday. The firm’s 50-day moving average price is $63.03 and its 200 day moving average price is $59.07. 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 Co. has a 12-month low of $41.68 and a 12-month high of $65.88.
Crane (NYSE:CR) last issued its earnings results on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.19. The company earned $712.20 million during 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%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. On average, analysts predict that Crane Co. will post ($0.17) earnings per share for the current year.
CR has been the subject of a number of recent research reports. Bank of America Corp. upgraded Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price objective for the company in a research note on Friday, July 29th. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Canaccord Genuity reissued a “hold” rating and issued a $60.00 target price on shares of Crane in a report on Friday, June 17th. Credit Suisse Group AG reissued a “hold” rating on shares of Crane in a report on Friday, August 5th. Finally, Alembic Global Advisors began coverage on Crane in a report on Monday, July 11th. They issued a “neutral” rating and a $61.00 target price for the company. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Crane presently has a consensus rating of “Hold” and a consensus target price of $62.00.
In other Crane news, Director E Thayer Bigelow sold 4,000 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $64.96, for a total transaction of $259,840.00. Following the sale, the director now directly owns 21,791 shares of the company’s stock, valued at approximately $1,415,543.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP A D. Pantaleoni sold 5,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $62.74, for a total value of $313,700.00. Following the sale, the vice president now directly owns 9,876 shares in the company, valued at $619,620.24. 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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