Crane Company (CR) Shares Bought by Suntrust Banks Inc.
Suntrust Banks Inc. increased its stake in shares of Crane Company (NYSE:CR) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,152 shares of the conglomerate’s stock after purchasing an additional 547 shares during the quarter. Suntrust Banks Inc.’s holdings in Crane were worth $2,075,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CR. BlackRock Inc. grew its stake in shares of Crane by 9,355.1% during the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock valued at $299,129,000 after purchasing an additional 3,955,159 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Crane by 115.7% during the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock valued at $101,056,000 after purchasing an additional 682,934 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Crane by 31.7% during the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock valued at $114,772,000 after purchasing an additional 369,589 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Crane by 69.0% during the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock valued at $50,807,000 after purchasing an additional 261,354 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Crane by 1,866.9% during the second quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock valued at $21,834,000 after purchasing an additional 261,072 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors and hedge funds.
In other Crane news, Director E Thayer Bigelow sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kristian Robert Salovaara sold 9,200 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,200 shares of company stock valued at $1,661,630. Corporate insiders own 3.10% of the company’s stock.
Several research firms have recently commented on CR. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Wednesday, June 21st. Royal Bank Of Canada reissued a “hold” rating on shares of Crane in a research note on Monday, September 25th. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Stifel Nicolaus reissued a “hold” rating and set a $84.00 price target on shares of Crane in a research note on Thursday, July 6th. Finally, Wolfe Research raised shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $76.88.
Crane Company (NYSE:CR) opened at 79.99 on Friday. The company has a market capitalization of $4.77 billion, a PE ratio of 36.44 and a beta of 1.11. The firm has a 50-day moving average of $74.59 and a 200-day moving average of $76.89. Crane Company has a 52 week low of $59.81 and a 52 week high of $84.34.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. During the same period in the prior year, the company posted $1.21 EPS. The company’s revenue was down 1.4% on a year-over-year basis. Equities analysts expect that Crane Company will post $4.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 31st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is currently 60.83%.
Crane Company Profile
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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