Raymond James & Associates Has $5.16 Million Position in Crane Co. (CR)

Raymond James & Associates lowered its position in shares of Crane Co. (NYSE:CR) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,827 shares of the conglomerate’s stock after selling 4,909 shares during the period. Raymond James & Associates owned 0.10% of Crane worth $5,159,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fruth Investment Management acquired a new position in shares of Crane during the fourth quarter worth $205,000. Levin Capital Strategies L.P. acquired a new position in shares of Crane during the fourth quarter worth $208,000. JOYN Advisors Inc. acquired a new position in shares of Crane during the fourth quarter worth $213,000. Vident Investment Advisory LLC acquired a new position in shares of Crane during the third quarter worth $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Crane by 51.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 69.36% of the company’s stock.

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In related news, VP Augustus I. Dupont sold 16,396 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the sale, the vice president now owns 102,994 shares in the company, valued at $10,066,633.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James A. Lavish sold 12,984 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $94.90, for a total transaction of $1,232,181.60. Following the sale, the vice president now owns 16,997 shares in the company, valued at approximately $1,613,015.30. The disclosure for this sale can be found here. Insiders sold 46,861 shares of company stock worth $4,476,647 over the last quarter. Company insiders own 3.00% of the company’s stock.

Several research firms have issued reports on CR. AltaCorp Capital restated a “buy” rating on shares of Crane in a research note on Monday, January 15th. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Friday, February 2nd. Boenning Scattergood restated a “hold” rating on shares of Crane in a research note on Tuesday, January 30th. Canaccord Genuity upped their price objective on shares of Crane from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $106.50.

CR stock opened at $92.74 on Monday. The company has a market capitalization of $5,531.49, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.20. Crane Co. has a 12 month low of $71.23 and a 12 month high of $102.65. The company has a current ratio of 1.81, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 EPS for the quarter, beating the consensus estimate of $1.17 by $0.01. The business had revenue of $714.20 million for the quarter, compared to analyst estimates of $702.50 million. Crane had a net margin of 6.17% and a return on equity of 20.66%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. equities analysts anticipate that Crane Co. will post 5.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This is a positive change from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. Crane’s dividend payout ratio is currently 30.91%.

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About Crane

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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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