Crane Co. (NYSE:CR) Stake Trimmed by Profund Advisors LLC

Profund Advisors LLC lowered its stake in Crane Co. (NYSE:CR) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,519 shares of the conglomerate’s stock after selling 400 shares during the quarter. Profund Advisors LLC’s holdings in Crane were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in Crane during the 2nd quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new position in Crane during the 2nd quarter valued at about $31,000. Redhawk Wealth Advisors Inc. purchased a new position in Crane during the 2nd quarter valued at about $33,000. Icon Wealth Partners LLC purchased a new position in Crane during the 1st quarter valued at about $47,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Crane during the 2nd quarter valued at about $48,000. 69.22% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP James A. Lavish sold 650 shares of Crane stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $86.36, for a total transaction of $56,134.00. Following the completion of the sale, the vice president now directly owns 16,359 shares in the company, valued at approximately $1,412,763.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.39% of the stock is owned by insiders.

Shares of Crane stock traded down $0.08 during trading on Friday, hitting $80.63. 162,918 shares of the stock traded hands, compared to its average volume of 219,650. The stock has a market cap of $4.88 billion, a P/E ratio of 13.46, a PEG ratio of 2.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 2.17. Crane Co. has a twelve month low of $67.18 and a twelve month high of $100.14. The company has a fifty day moving average price of $77.67 and a two-hundred day moving average price of $82.35.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 22nd. The conglomerate reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.03. The business had revenue of $841.60 million during the quarter, compared to analyst estimates of $833.30 million. Crane had a return on equity of 24.24% and a net margin of 10.67%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. On average, equities research analysts expect that Crane Co. will post 6.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Saturday, August 31st were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.56 annualized dividend and a dividend yield of 1.93%. Crane’s dividend payout ratio is 26.04%.

Several equities analysts have weighed in on CR shares. Buckingham Research lifted their target price on Crane from $97.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. DA Davidson lifted their target price on Crane from $105.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, ValuEngine cut Crane from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.88.

About Crane

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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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