Renaissance Technologies LLC Sells 12,100 Shares of Crane Company (CR)
Renaissance Technologies LLC lessened its stake in Crane Company (NYSE:CR) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 218,400 shares of the conglomerate’s stock after selling 12,100 shares during the quarter. Renaissance Technologies LLC owned about 0.37% of Crane worth $17,337,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CR. UBS Asset Management Americas Inc. increased its holdings in shares of Crane by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 37,939 shares of the conglomerate’s stock valued at $2,839,000 after purchasing an additional 3,011 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Crane by 37.9% in the first quarter. United Services Automobile Association now owns 9,050 shares of the conglomerate’s stock valued at $677,000 after purchasing an additional 2,485 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Crane by 19.0% in the first quarter. OppenheimerFunds Inc. now owns 9,227 shares of the conglomerate’s stock valued at $690,000 after purchasing an additional 1,476 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Crane in the first quarter valued at approximately $831,000. Finally, Advantus Capital Management Inc increased its holdings in shares of Crane by 3.9% in the first quarter. Advantus Capital Management Inc now owns 6,437 shares of the conglomerate’s stock valued at $482,000 after purchasing an additional 241 shares during the last quarter. 69.42% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on CR shares. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Monday, July 17th. BidaskClub raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Scotiabank reaffirmed a “buy” rating on shares of Crane in a report on Tuesday. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $76.38.
Crane Company (NYSE CR) opened at 81.64 on Friday. Crane Company has a 12 month low of $59.81 and a 12 month high of $84.34. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 37.19 and a beta of 1.12. The company has a 50-day moving average price of $77.36 and a 200 day moving average price of $77.65.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, meeting the Thomson Reuters’ 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%. Crane’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. Equities analysts predict that Crane Company will post $4.48 earnings per share for the current year.
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In other news, Director E Thayer Bigelow sold 6,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $73.73, for a total transaction of $442,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward S. Switter sold 7,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $74.03, for a total transaction of $518,210.00. Following the sale, the vice president now directly owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The disclosure for this sale can be found here. Insiders have sold a total of 22,200 shares of company stock valued at $1,661,630 over the last three months. Corporate insiders own 3.10% of the company’s stock.
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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