PNC Financial Services Group Inc. raised its holdings in Crane Company (NYSE:CR) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,168 shares of the conglomerate’s stock after acquiring an additional 236 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Crane were worth $1,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in Crane by 2.0% in the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after acquiring an additional 80,055 shares during the last quarter. AQR Capital Management LLC lifted its stake in Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock valued at $114,772,000 after acquiring an additional 369,589 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Crane by 115.7% in the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock valued at $101,056,000 after acquiring an additional 682,934 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Crane by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock valued at $51,002,000 after acquiring an additional 11,670 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Crane by 69.0% in the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock valued at $50,807,000 after acquiring an additional 261,354 shares during the last quarter. Hedge funds and other institutional investors own 69.42% of the company’s stock.

Crane Company (NYSE:CR) opened at 80.63 on Friday. The stock has a 50 day moving average of $76.27 and a 200-day moving average of $77.36. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 36.73 and a beta of 1.12. Crane Company has a 52-week low of $59.81 and a 52-week high of $84.34.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, meeting the consensus estimate of $1.17. The company had revenue of $702.50 million during the quarter, compared to the consensus estimate of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, analysts forecast that Crane Company will post $4.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 31st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, August 29th. Crane’s payout ratio is presently 60.83%.

A number of analysts have issued reports on CR shares. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Monday, July 17th. BidaskClub upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Boenning Scattergood reiterated a “hold” rating on shares of Crane in a research note on Monday, October 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Crane in a research note on Monday, September 25th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $76.38.

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In other Crane news, Director E Thayer Bigelow sold 6,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $73.73, for a total transaction of $442,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.20, for a total value of $701,040.00. Following the sale, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The disclosure for this sale can be found here. In the last three months, insiders sold 22,200 shares of company stock valued at $1,661,630. 3.10% of the stock is currently owned by insiders.

About Crane

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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