Prudential Financial Inc. raised its stake in Crane Company (NYSE:CR) by 69.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 640,052 shares of the conglomerate’s stock after buying an additional 261,354 shares during the period. Prudential Financial Inc. owned 1.08% of Crane worth $50,807,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CR. State Treasurer State of Michigan boosted its stake in shares of Crane by 2.0% in the first quarter. State Treasurer State of Michigan now owns 20,432 shares of the conglomerate’s stock valued at $1,529,000 after buying an additional 400 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Crane by 4.4% in the first quarter. Great West Life Assurance Co. Can now owns 30,151 shares of the conglomerate’s stock valued at $2,254,000 after buying an additional 1,283 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Crane by 287.6% in the first quarter. Canada Pension Plan Investment Board now owns 90,300 shares of the conglomerate’s stock valued at $6,757,000 after buying an additional 67,000 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Crane by 2.8% in the first quarter. Wells Fargo & Company MN now owns 111,525 shares of the conglomerate’s stock valued at $8,345,000 after buying an additional 2,988 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Crane by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the conglomerate’s stock valued at $1,291,000 after buying an additional 200 shares during the period. 70.70% of the stock is owned by institutional investors and hedge funds.

Shares of Crane Company (NYSE CR) opened at 73.80 on Wednesday. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 33.62 and a beta of 1.10. The company’s 50 day moving average price is $77.62 and its 200 day moving average price is $76.73. Crane Company has a one year low of $59.81 and a one year high of $84.34.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.17. The firm had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. On average, analysts expect that Crane Company will post $4.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s dividend payout ratio is currently 60.83%.

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Several analysts have recently commented on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 target price on shares of Crane in a research report on Friday, July 14th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Monday, July 17th. Wolfe Research assumed coverage on Crane in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. BidaskClub raised Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, ValuEngine raised Crane from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.88.

In other news, VP Kristian Robert Salovaara sold 9,200 shares of Crane stock in a transaction dated 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 directly owns 24,786 shares in the company, valued at $1,888,693.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $73.73, for a total transaction of $442,380.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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