Schroder Investment Management Group cut its position in shares of Crane Co. (NYSE:CR) by 16.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 64,519 shares of the company’s stock after selling 12,900 shares during the period. Schroder Investment Management Group owned approximately 0.11% of Crane worth $3,660,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Landscape Capital Management L.L.C. acquired a new position in shares of Crane during the first quarter worth about $899,000. Bessemer Group Inc. acquired 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 in the last quarter. 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 in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Crane by 30.8% in the first quarter. BlackRock Inc. now owns 68,965 shares of the company’s stock worth $3,715,000 after buying an additional 16,259 shares in the last quarter. Institutional investors own 67.39% of the company’s stock.
Shares of Crane Co. (NYSE:CR) traded up 1.2339% on Wednesday, hitting $61.8539. 99,091 shares of the stock traded hands. Crane Co. has a 1-year low of $41.68 and a 1-year high of $65.88. The stock has a market cap of $3.61 billion, a PE ratio of 14.8687 and a beta of 1.43. The stock has a 50 day moving average of $63.89 and a 200-day moving average of $58.14.
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 Zacks’ consensus estimate of $1.02 by $0.19. The company earned $712.20 million during 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%. Crane’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, equities research analysts expect that Crane Co. will post ($0.17) EPS for the current 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 $0.33 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.16%. Crane’s payout ratio is presently 31.73%.
A number of equities analysts have recently issued reports on the stock. Credit Suisse Group AG restated a “hold” rating on shares of Crane in a research note on Friday, August 5th. RBC Capital Markets reiterated a “sector perform” rating and set a $63.00 target price (up previously from $57.00) on shares of Crane in a research report on Wednesday, July 27th. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating and set a $69.00 target price for the company in a research report on Wednesday, July 27th. Finally, Royal Bank Of Canada increased their target price on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Crane currently has a consensus rating of “Hold” and an average price target of $62.00.
In other news, VP A D. Pantaleoni sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total value of $313,700.00. Following the completion of the sale, the vice president now owns 9,876 shares of the company’s stock, valued at $619,620.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas J. Craney sold 3,915 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $64.54, for a total transaction of $252,674.10. Following the sale, the insider now directly owns 20,062 shares of the company’s stock, valued at approximately $1,294,801.48. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
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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