Prudential Financial Inc. Sells 53,460 Shares of Crane Company (CR)
Prudential Financial Inc. lessened its position in shares of Crane Company (NYSE:CR) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 586,592 shares of the conglomerate’s stock after selling 53,460 shares during the quarter. Prudential Financial Inc. owned approximately 0.98% of Crane worth $46,922,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC grew its holdings in shares of Crane by 33.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after purchasing an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Crane by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 140 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Crane by 221.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after purchasing an additional 1,282 shares in the last quarter. Howe & Rusling Inc. grew its holdings in shares of Crane by 88.5% during the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after purchasing an additional 1,057 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Crane during the 2nd quarter worth approximately $204,000. 69.02% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on CR shares. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Boenning Scattergood restated a “hold” rating on shares of Crane in a research report on Monday, October 2nd. Wolfe Research downgraded Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada restated a “hold” rating on shares of Crane in a research report on Monday, September 25th. Finally, ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $92.14.
In other Crane news, VP Edward S. Switter sold 7,000 shares of Crane stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now owns 23,873 shares in the company, valued at approximately $1,767,318.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction on Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,403 shares of company stock valued at $2,693,998. Corporate insiders own 3.10% of the company’s stock.
Crane Company (CR) opened at $82.67 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. Crane Company has a 52-week low of $67.62 and a 52-week high of $86.67. The stock has a market capitalization of $4,906.46, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The firm had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. equities research analysts expect that Crane Company will post 4.53 earnings per share for the current year.
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. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.32 annualized dividend and a yield of 1.60%. Crane’s payout ratio is 59.19%.
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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