Great Lakes Advisors LLC lowered its position in Crane Co. (NYSE:CR) by 25.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,154 shares of the conglomerate’s stock after selling 14,704 shares during the period. Great Lakes Advisors LLC owned approximately 0.07% of Crane worth $3,894,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in Crane in the 2nd quarter valued at about $27,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Crane by 115.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 286 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 153 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Crane by 941.5% during the 1st quarter. Captrust Financial Advisors now owns 1,406 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 1,271 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Crane in the 1st quarter valued at approximately $158,000. Finally, First Mercantile Trust Co. grew its holdings in Crane by 85.6% during the 1st quarter. First Mercantile Trust Co. now owns 1,925 shares of the conglomerate’s stock valued at $181,000 after buying an additional 888 shares during the last quarter. 70.80% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on CR. DA Davidson reiterated a “buy” rating and set a $96.15 price target (down from $110.00) on shares of Crane in a report on Tuesday, July 27th. Bank of America began coverage on shares of Crane in a research note on Wednesday, September 8th. They issued a “buy” rating and a $123.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Crane presently has a consensus rating of “Buy” and an average target price of $94.43.
NYSE:CR opened at $93.12 on Friday. The firm’s fifty day simple moving average is $96.58 and its 200 day simple moving average is $94.70. The company has a current ratio of 2.20, a quick ratio of 1.60 and a debt-to-equity ratio of 0.49. Crane Co. has a twelve month low of $48.19 and a twelve month high of $104.74. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.81 and a beta of 1.70.
Crane (NYSE:CR) last posted its earnings results on Sunday, July 25th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.44. The business had revenue of $796.40 million during the quarter, compared to analyst estimates of $736.45 million. Crane had a return on equity of 20.48% and a net margin of 11.33%. On average, analysts predict that Crane Co. will post 6.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Tuesday, August 31st were given a $0.43 dividend. The ex-dividend date of this dividend was Monday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 1.85%. Crane’s payout ratio is currently 44.79%.
Crane Company Profile
Crane Co engages in the manufacturing of engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.
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