Crane Company (CR) Position Increased by Janney Capital Management LLC
Janney Capital Management LLC increased its stake in Crane Company (NYSE:CR) by 43.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,752 shares of the conglomerate’s stock after purchasing an additional 1,444 shares during the period. Janney Capital Management LLC’s holdings in Crane were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in CR. Acrospire Investment Management LLC boosted its stake in Crane by 33.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after purchasing an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Crane by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 140 shares in the last quarter. Global X Management Co. LLC boosted its stake in Crane by 221.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after purchasing an additional 1,282 shares in the last quarter. Howe & Rusling Inc. boosted its stake in Crane by 88.5% in the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after purchasing an additional 1,057 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in Crane by 54.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.
Several analysts have commented on the stock. Wolfe Research cut shares of Crane from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Seaport Global Securities upgraded shares of Crane from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $95.00 in a research note on Thursday, October 26th. Boenning Scattergood restated a “hold” rating on shares of Crane in a research note on Tuesday, October 24th. Stifel Nicolaus restated a “hold” rating and set a $84.00 price objective on shares of Crane in a research note on Wednesday, October 4th. Finally, Canaccord Genuity restated a “buy” rating on shares of Crane in a research note on Friday, November 3rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $93.83.
Crane Company (CR) opened at $85.02 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. Crane Company has a 12 month low of $67.62 and a 12 month high of $87.38. The stock has a market cap of $5,020.41, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.85 and a beta of 1.17.
Crane (NYSE:CR) last posted its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. During the same period in the previous year, the business posted $1.07 EPS. The business’s revenue was up .2% compared to the same quarter last year. research analysts anticipate that Crane Company will post 4.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Thursday, November 30th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Wednesday, November 29th. Crane’s dividend payout ratio is currently 59.19%.
In related news, VP A D. Pantaleoni sold 4,650 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $83.11, for a total value of $386,461.50. Following the completion of the sale, the vice president now owns 1,076 shares of the company’s stock, valued at approximately $89,426.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Augustus I. Dupont sold 11,130 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now directly owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,403 shares of company stock valued at $1,896,288. Company insiders own 3.10% of the company’s stock.
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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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