New York State Common Retirement Fund boosted its holdings in shares of Crane Co. (NYSE:CR) by 5.1% in the 3rd quarter, Holdings Channel reports. The firm owned 70,391 shares of the conglomerate’s stock after buying an additional 3,443 shares during the period. New York State Common Retirement Fund’s holdings in Crane were worth $6,674,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Crane by 2.5% during the second quarter. Principal Financial Group Inc. now owns 793,830 shares of the conglomerate’s stock valued at $73,326,000 after purchasing an additional 19,056 shares during the last quarter. AQR Capital Management LLC lifted its stake in Crane by 22.6% during the second quarter. AQR Capital Management LLC now owns 184,893 shares of the conglomerate’s stock valued at $16,663,000 after purchasing an additional 34,140 shares during the last quarter. Millennium Management LLC lifted its position in shares of Crane by 81.4% in the 2nd quarter. Millennium Management LLC now owns 13,291 shares of the conglomerate’s stock valued at $1,228,000 after acquiring an additional 5,964 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Crane by 5.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,149 shares of the conglomerate’s stock valued at $1,861,000 after acquiring an additional 982 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Crane by 8.3% in the 2nd quarter. Sigma Planning Corp now owns 3,734 shares of the conglomerate’s stock valued at $345,000 after acquiring an additional 287 shares in the last quarter. 70.68% of the stock is owned by institutional investors and hedge funds.
Crane stock opened at $105.03 on Wednesday. The firm has a market cap of $6.17 billion, a PE ratio of 15.16, a P/E/G ratio of 0.79 and a beta of 1.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.72 and a current ratio of 2.30. The firm’s 50 day moving average price is $102.31 and its two-hundred day moving average price is $97.67. Crane Co. has a twelve month low of $72.47 and a twelve month high of $108.67.
Crane (NYSE:CR) last announced its quarterly earnings results on Sunday, October 24th. The conglomerate reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.53. Crane had a net margin of 12.86% and a return on equity of 22.61%. The company had revenue of $833.50 million for the quarter, compared to analyst estimates of $770.61 million. During the same quarter in the prior year, the business posted $1.05 EPS. Crane’s quarterly revenue was up 21.4% on a year-over-year basis. Equities analysts anticipate that Crane Co. will post 6.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 8th. Stockholders of record on Tuesday, November 30th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 1.64%. Crane’s dividend payout ratio (DPR) is 24.82%.
Several equities research analysts recently commented on CR shares. Bank of America started coverage on shares of Crane in a research report on Wednesday, September 8th. They issued a “buy” rating and a $123.00 price target for the company. Morgan Stanley started coverage on shares of Crane in a research report on Friday, December 3rd. They issued an “equal weight” rating and a $111.00 price target for the company. BMO Capital Markets upgraded shares of Crane to an “outperform” rating in a research report on Monday, September 27th. DA Davidson upped their price target on shares of Crane from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, October 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Crane from a “hold” rating to a “sell” rating and set a $107.00 price objective on the stock. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $113.20.
In other news, Director James L. L Tullis sold 2,000 shares of the stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $104.71, for a total transaction of $209,420.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.
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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