Quantbot Technologies LP Takes Position in Crane Company (CR)
Quantbot Technologies LP purchased a new position in Crane Company (NYSE:CR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,632 shares of the conglomerate’s stock, valued at approximately $930,000.
A number of other hedge funds have also recently modified their holdings of CR. Acrospire Investment Management LLC grew its stake in Crane by 33.3% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after purchasing an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 140 shares during the period. Global X Management Co. LLC grew its stake in Crane by 221.0% in the second 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 during the period. Howe & Rusling Inc. grew its stake in Crane by 88.5% in the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after purchasing an additional 1,057 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Crane in the second quarter worth $204,000. 68.72% of the stock is currently owned by institutional investors.
CR has been the topic of several analyst reports. Wolfe Research raised Crane from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Boenning Scattergood reissued a “hold” rating on shares of Crane in a report on Monday, October 2nd. BidaskClub downgraded Crane from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Monday, October 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $84.00 target price on shares of Crane in a report on Wednesday, October 4th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Crane has an average rating of “Buy” and a consensus target price of $92.14.
Crane Company (NYSE CR) opened at $82.78 on Wednesday. The stock has a market capitalization of $4,896.37, a price-to-earnings ratio of 18.88, a PEG ratio of 1.81 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54. Crane Company has a 1-year low of $67.62 and a 1-year high of $86.67.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The firm 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%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. analysts predict that Crane Company will post 4.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th 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 1.59%. The ex-dividend date is Wednesday, November 29th. Crane’s payout ratio is currently 59.19%.
In other Crane news, Director James L. L. Tullis sold 2,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total value of $162,880.00. Following the transaction, the director now owns 2,110 shares of the company’s stock, valued at $171,838.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director E Thayer Bigelow sold 6,000 shares of the stock in a transaction dated 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. Over the last ninety days, insiders have sold 35,403 shares of company stock worth $2,856,878. Corporate insiders own 3.10% of the company’s stock.
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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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