Legal & General Group Plc lowered its stake in Crane Co. (NYSE:CR) by 10.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 92,945 shares of the conglomerate’s stock after selling 10,401 shares during the quarter. Legal & General Group Plc’s holdings in Crane were worth $8,585,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in shares of Crane in the second quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Crane by 115.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 286 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 153 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Crane by 941.5% during the 1st quarter. Captrust Financial Advisors now owns 1,406 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 1,271 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of Crane by 85.6% during the 1st quarter. First Mercantile Trust Co. now owns 1,925 shares of the conglomerate’s stock worth $181,000 after purchasing an additional 888 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Crane by 26.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,011 shares of the conglomerate’s stock worth $189,000 after purchasing an additional 426 shares during the last quarter. 70.80% of the stock is owned by institutional investors.
CR stock opened at $90.40 on Thursday. The firm has a market cap of $5.30 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.81 and a beta of 1.70. Crane Co. has a 1-year low of $49.05 and a 1-year high of $104.74. The business’s 50 day moving average is $96.79 and its 200-day moving average is $94.90. The company has a current ratio of 2.20, a quick ratio of 1.60 and a debt-to-equity ratio of 0.49.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Tuesday, August 31st were given a dividend of $0.43 per share. The ex-dividend date was Monday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 1.90%. Crane’s dividend payout ratio (DPR) is presently 44.79%.
Several research firms recently weighed in on CR. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a research report on Tuesday, September 28th. Bank of America started coverage on Crane in a research report on Wednesday, September 8th. They set a “buy” rating and a $123.00 price objective for the company. BMO Capital Markets raised Crane to an “outperform” rating in a report on Monday, September 27th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $96.15 price target (down previously from $110.00) on shares of Crane in a report on Tuesday, July 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $98.23.
In other Crane news, SVP Kurt F. Gallo sold 454 shares of the company’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $99.00, for a total transaction of $44,946.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kurt F. Gallo sold 2,500 shares of the company’s stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $103.74, for a total value of $259,350.00. Following the transaction, the senior vice president now directly owns 2,500 shares in the company, valued at approximately $259,350. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,000 shares of company stock worth $1,297,468. 3.00% of the stock is owned by corporate insiders.
Crane Co engages in the manufacturing of engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.
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