Credit Agricole S A boosted its position in Crane Co. (NYSE:CR) by 7.3% during the fourth quarter, Holdings Channel reports. The firm owned 6,127 shares of the company’s stock after buying an additional 415 shares during the period. Credit Agricole S A’s holdings in Crane were worth $442,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of Crane by 234.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,498 shares of the company’s stock valued at $158,000 after buying an additional 1,750 shares during the last quarter. Stanley Laman Group Ltd. bought a new position in shares of Crane during the third quarter valued at $192,000. Argyle Capital Management Inc. bought a new position in shares of Crane during the third quarter valued at $202,000. World Asset Management Inc bought a new position in shares of Crane during the third quarter valued at $202,000. Finally, LS Investment Advisors LLC increased its position in shares of Crane by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,226 shares of the company’s stock valued at $203,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 68.63% of the company’s stock.
Shares of Crane Co. (NYSE:CR) opened at 75.03 on Tuesday. Crane Co. has a 52-week low of $51.35 and a 52-week high of $78.93. The company’s 50 day moving average price is $73.86 and its 200 day moving average price is $70.07. The stock has a market capitalization of $4.44 billion, a PE ratio of 36.25 and a beta of 1.19.
Crane (NYSE:CR) last issued its earnings results on Monday, January 30th. The company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.04. Crane had a return on equity of 20.23% and a net margin of 4.47%. The business earned $681 million during the quarter, compared to analysts’ expectations of $664.63 million. During the same period in the prior year, the business earned $1.12 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts anticipate that Crane Co. will post $4.45 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Tuesday, February 28th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Friday, February 24th. Crane’s dividend payout ratio is 64.08%.
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Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Crane from $69.00 to $79.00 and gave the company a “buy” rating in a report on Monday, December 5th. TheStreet downgraded Crane from a “b+” rating to a “c+” rating in a report on Tuesday, January 31st. Oppenheimer Holdings Inc. upgraded Crane from a “market perform” rating to an “outperform” rating and set a $82.00 price target for the company in a report on Wednesday, February 1st. They noted that the move was a valuation call. Boenning Scattergood downgraded Crane from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 31st. Finally, Bank of America Corp upgraded Crane from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a report on Monday, March 6th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.08.
In other Crane news, Director James L. L. Tullis sold 2,000 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $74.37, for a total value of $148,740.00. Following the completion of the sale, the director now directly owns 2,110 shares in the company, valued at approximately $156,920.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas J. Craney sold 4,176 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $74.18, for a total value of $309,775.68. Following the completion of the sale, the insider now owns 15,062 shares of the company’s stock, valued at $1,117,299.16. The disclosure for this sale can be found here. Insiders sold a total of 69,487 shares of company stock valued at $5,158,880 over the last quarter. Company insiders own 3.00% of the company’s stock.
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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