Crane Company (CR) VP Augustus I. Dupont Sells 3,556 Shares
Crane Company (NYSE:CR) VP Augustus I. Dupont sold 3,556 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $83.89, for a total transaction of $298,312.84. Following the completion of the transaction, the vice president now owns 80,560 shares in the company, valued at approximately $6,758,178.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. Crane’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio (DPR) is presently 59.19%.
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CR has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Monday, July 17th. BidaskClub upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Scotiabank restated a “buy” rating on shares of Crane in a report on Tuesday, October 10th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $92.00 target price (up previously from $88.00) on shares of Crane in a report on Wednesday, October 25th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Crane presently has an average rating of “Buy” and a consensus price target of $81.63.
A number of institutional investors have recently made changes to their positions in CR. Legal & General Group Plc grew its position in shares of Crane by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock worth $4,288,000 after buying an additional 3,894 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Crane by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock worth $51,002,000 after purchasing an additional 11,670 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Crane by 23.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock worth $46,237,000 after purchasing an additional 111,581 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Crane during the 2nd quarter worth $204,000. Finally, American Century Companies Inc. lifted its stake in shares of Crane by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 98,750 shares of the conglomerate’s stock worth $7,839,000 after purchasing an additional 29,150 shares during the last quarter. 68.92% of the stock is currently owned by institutional investors.
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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