BB&T Securities LLC Sells 1,084 Shares of Crane Co. (CR)
BB&T Securities LLC lessened its position in shares of Crane Co. (NYSE:CR) by 18.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,864 shares of the conglomerate’s stock after selling 1,084 shares during the quarter. BB&T Securities LLC’s holdings in Crane were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Laurion Capital Management LP acquired a new stake in shares of Crane during the 2nd quarter worth approximately $1,939,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Crane by 6.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 370,894 shares of the conglomerate’s stock worth $29,720,000 after purchasing an additional 23,667 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Crane by 31.8% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 207,082 shares of the conglomerate’s stock worth $16,593,000 after purchasing an additional 50,000 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Crane during the 2nd quarter worth approximately $1,250,000. Finally, GSA Capital Partners LLP acquired a new stake in Crane in the 1st quarter valued at $2,089,000. 68.33% of the stock is currently owned by institutional investors.
Shares of CR stock opened at $98.71 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $5.88 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.78 and a beta of 1.28. Crane Co. has a one year low of $77.80 and a one year high of $102.65.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 31st were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.40 annualized dividend and a yield of 1.42%. Crane’s payout ratio is 30.91%.
In other Crane news, VP Edward S. Switter sold 6,654 shares of Crane stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $88.83, for a total value of $591,074.82. Following the completion of the transaction, the vice president now owns 26,098 shares in the company, valued at approximately $2,318,285.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard A. Maue sold 13,150 shares of Crane stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $89.04, for a total value of $1,170,876.00. Following the completion of the transaction, the chief financial officer now owns 55,390 shares of the company’s stock, valued at approximately $4,931,925.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,531 shares of company stock valued at $7,477,261. Corporate insiders own 3.00% of the company’s stock.
Several analysts recently commented on the company. ValuEngine raised Crane from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, UBS Group raised Crane from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, July 30th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $107.00.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including 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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