Crane Co. (CR) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Crane Co. (NYSE:CR) by 64.5% during the first quarter, HoldingsChannel.com reports. The firm owned 17,929 shares of the conglomerate’s stock after selling 32,626 shares during the quarter. Hsbc Holdings PLC’s holdings in Crane were worth $1,663,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CR. Levin Capital Strategies L.P. acquired a new position in Crane during the fourth quarter worth about $208,000. JOYN Advisors Inc. acquired a new position in Crane during the fourth quarter worth about $213,000. CHICAGO TRUST Co NA acquired a new position in Crane during the first quarter worth about $230,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 acquiring an additional 917 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Crane during the first quarter worth about $358,000. 69.26% of the stock is currently owned by institutional investors.

Crane opened at $85.35 on Wednesday, MarketBeat reports. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.79 and a quick ratio of 1.35. Crane Co. has a 1-year low of $71.23 and a 1-year high of $102.65. The firm has a market capitalization of $5.11 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.47 and a beta of 1.20.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, April 23rd. The conglomerate reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. Crane had a return on equity of 21.08% and a net margin of 6.09%. The business had revenue of $799.00 million during the quarter, compared to analyst estimates of $802.47 million. During the same quarter last year, the company posted $1.05 EPS. Crane’s revenue for the quarter was up 18.7% on a year-over-year basis. research analysts expect that Crane Co. will post 5.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Thursday, May 31st were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.64%. Crane’s dividend payout ratio (DPR) is 30.91%.

A number of research analysts recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 target price on shares of Crane in a report on Monday, March 12th. DA Davidson assumed coverage on Crane in a report on Wednesday, March 21st. They set a “buy” rating and a $108.00 target price on the stock. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Crane in a report on Monday, February 26th. Finally, Susquehanna Bancshares raised Crane from a “neutral” rating to a “positive” rating and set a $104.00 target price on the stock in a report on Wednesday, April 25th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Crane has an average rating of “Buy” and a consensus target price of $105.89.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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