Eaton Vance Management decreased its position in shares of Crane Co. (NYSE:CR) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 5,115 shares of the company’s stock after selling 3 shares during the period. Eaton Vance Management’s holdings in Crane were worth $290,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in CR. Canada Pension Plan Investment Board boosted its position in shares of Crane by 18.4% in the first quarter. Canada Pension Plan Investment Board now owns 24,500 shares of the company’s stock worth $1,320,000 after buying an additional 3,800 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Crane during the first quarter worth about $899,000. Bessemer Group Inc. bought a new position in shares of Crane during the first quarter worth about $4,891,000. JPMorgan Chase & Co. boosted its position in shares of Crane by 31.1% in the first quarter. JPMorgan Chase & Co. now owns 474,453 shares of the company’s stock worth $25,555,000 after buying an additional 112,572 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Crane by 113.5% in the first quarter. BlackRock Group LTD now owns 424,658 shares of the company’s stock worth $22,871,000 after buying an additional 225,790 shares during the period. Institutional investors and hedge funds own 67.40% of the company’s stock.
Crane Co. (NYSE:CR) traded down 0.54% during trading on Monday, hitting $62.67. 54,665 shares of the stock traded hands. The firm has a 50-day moving average price of $63.50 and a 200 day moving average price of $58.64. Crane Co. has a 12 month low of $41.68 and a 12 month high of $65.88. The firm has a market cap of $3.66 billion, a PE ratio of 15.06 and a beta of 1.37.
Crane (NYSE:CR) last announced its earnings results on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.19. The firm had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $697.13 million. Crane had a net margin of 9.01% and a return on equity of 21.25%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. On average, equities analysts forecast that Crane Co. will post ($0.17) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, August 29th. Crane’s dividend payout ratio is 31.73%.
A number of brokerages have recently issued reports on CR. Royal Bank Of Canada raised their price objective on Crane from $57.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Credit Suisse Group AG reissued a “hold” rating on shares of Crane in a research note on Friday, August 5th. Bank of America Corp. raised Crane from an “underperform” rating to a “neutral” rating and set a $70.00 target price on the stock in a research note on Friday, July 29th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $60.00 target price on shares of Crane in a research note on Friday, June 17th. Ten analysts have rated the stock with a hold rating and five have issued 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, insider Bradley Ellis sold 10,000 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $65.14, for a total value of $651,400.00. Following the transaction, the insider now directly owns 167,711 shares in the company, valued at approximately $10,924,694.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP A D. Pantaleoni sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $62.74, for a total transaction of $313,700.00. Following the completion of the transaction, the vice president now owns 9,876 shares in the company, valued at $619,620.24. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
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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