Northwestern Mutual Wealth Management Co. raised its holdings in shares of Crane Co. (NYSE:CR) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,140 shares of the conglomerate’s stock after acquiring an additional 173 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Crane were worth $181,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in CR. BlackRock Inc. increased its holdings in Crane by 17.7% in the 4th quarter. BlackRock Inc. now owns 7,150,304 shares of the conglomerate’s stock worth $516,111,000 after acquiring an additional 1,073,105 shares in the last quarter. Norges Bank purchased a new stake in Crane in the 4th quarter worth $44,701,000. Millennium Management LLC purchased a new stake in Crane in the 4th quarter worth $7,367,000. Two Sigma Investments LP increased its holdings in Crane by 343.5% in the 4th quarter. Two Sigma Investments LP now owns 126,387 shares of the conglomerate’s stock worth $9,123,000 after acquiring an additional 97,892 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in Crane by 2,308.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 95,265 shares of the conglomerate’s stock worth $8,061,000 after acquiring an additional 91,310 shares in the last quarter. Institutional investors and hedge funds own 69.51% of the company’s stock.
A number of equities research analysts have recently issued reports on CR shares. Buckingham Research dropped their target price on shares of Crane from $102.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Zacks Investment Research raised shares of Crane from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Desjardins reissued a “buy” rating on shares of Crane in a research report on Thursday, March 7th. UBS Group boosted their price target on shares of Crane from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, GMP Securities reissued a “hold” rating on shares of Crane in a research report on Thursday, February 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $93.02.
Crane stock traded down $0.38 during midday trading on Wednesday, reaching $79.42. The company’s stock had a trading volume of 764 shares, compared to its average volume of 289,912. Crane Co. has a fifty-two week low of $67.18 and a fifty-two week high of $100.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a market cap of $4.76 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, April 29th. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $831.70 million during the quarter, compared to analysts’ expectations of $792.39 million. Crane had a return on equity of 24.49% and a net margin of 10.34%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.31 earnings per share. Sell-side analysts predict that Crane Co. will post 6.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 31st were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, May 30th. Crane’s dividend payout ratio is presently 26.04%.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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