Crane Co. (CR) Shares Sold by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP decreased its stake in Crane Co. (NYSE:CR) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 537,914 shares of the conglomerate’s stock after selling 27,510 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Crane were worth $43,029,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Crane by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,382 shares of the conglomerate’s stock valued at $586,000 after purchasing an additional 38 shares during the period. M&T Bank Corp lifted its stake in shares of Crane by 1.9% in the second quarter. M&T Bank Corp now owns 4,989 shares of the conglomerate’s stock worth $395,000 after buying an additional 91 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after buying an additional 140 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Crane by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 14,168 shares of the conglomerate’s stock worth $1,125,000 after buying an additional 236 shares in the last quarter. Finally, Utah Retirement Systems lifted its stake in shares of Crane by 3.4% in the second quarter. Utah Retirement Systems now owns 9,125 shares of the conglomerate’s stock worth $725,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.
Crane Co. (NYSE:CR) opened at $91.29 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. Crane Co. has a 52 week low of $67.62 and a 52 week high of $91.93. The company has a market cap of $5,460.00, a PE ratio of 40.75, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17.
Crane (NYSE:CR) last issued its earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The company had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. During the same period in the previous year, the firm earned $1.07 earnings per share. Crane’s quarterly revenue was up .2% compared to the same quarter last year. equities analysts predict that Crane Co. will post 4.53 EPS for the current fiscal year.
In other Crane news, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total transaction of $162,880.00. Following the transaction, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Augustus I. Dupont sold 11,130 shares of Crane stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the transaction, the vice president now directly owns 84,116 shares in the company, valued at $7,257,528.48. The disclosure for this sale can be found here. Insiders have sold 22,403 shares of company stock worth $1,896,288 over the last ninety days. 3.10% of the stock is owned by insiders.
Several equities analysts have recently weighed in on CR shares. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Canaccord Genuity reissued a “buy” rating and issued a $95.00 price target on shares of Crane in a research note on Tuesday, December 5th. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Bank of America raised their price target on shares of Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Oppenheimer reissued a “buy” rating on shares of Crane in a research note on Tuesday, December 5th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Crane currently has an average rating of “Buy” and a consensus target price of $93.83.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including 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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