Russell Investments Group Ltd. Buys 585 Shares of Crane Co. (NYSE:CR)
Russell Investments Group Ltd. raised its holdings in Crane Co. (NYSE:CR) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 75,170 shares of the conglomerate’s stock after purchasing an additional 585 shares during the quarter. Russell Investments Group Ltd.’s holdings in Crane were worth $6,269,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Crane by 6.4% in the first quarter. BlackRock Inc. now owns 7,610,872 shares of the conglomerate’s stock valued at $644,031,000 after buying an additional 460,568 shares during the period. Geode Capital Management LLC grew its position in shares of Crane by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 493,972 shares of the conglomerate’s stock valued at $35,654,000 after purchasing an additional 18,836 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of Crane by 3.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 341,934 shares of the conglomerate’s stock valued at $28,934,000 after purchasing an additional 12,300 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Crane by 9.1% in the second quarter. Wells Fargo & Company MN now owns 296,144 shares of the conglomerate’s stock valued at $24,710,000 after purchasing an additional 24,723 shares during the last quarter. Finally, Dudley & Shanley Inc. grew its position in shares of Crane by 26.8% in the second quarter. Dudley & Shanley Inc. now owns 233,522 shares of the conglomerate’s stock valued at $19,485,000 after purchasing an additional 49,420 shares during the last quarter. Hedge funds and other institutional investors own 69.23% of the company’s stock.
Several equities analysts have recently commented on CR shares. DA Davidson upped their target price on Crane from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Buckingham Research upped their target price on Crane from $97.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, ValuEngine downgraded Crane from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $95.88.
NYSE:CR traded up $1.04 during trading hours on Friday, reaching $82.89. 1,110 shares of the company were exchanged, compared to its average volume of 248,015. The company has a market capitalization of $4.86 billion, a P/E ratio of 13.81, a P/E/G ratio of 2.03 and a beta of 1.37. Crane Co. has a 1-year low of $67.18 and a 1-year high of $100.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.17 and a quick ratio of 1.50. The business has a 50 day moving average of $78.25 and a 200 day moving average of $82.47.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 22nd. The conglomerate reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.03. The business had revenue of $841.60 million for the quarter, compared to the consensus estimate of $833.30 million. Crane had a return on equity of 24.24% and a net margin of 10.67%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. As a group, equities research analysts anticipate that Crane Co. will post 6.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Saturday, August 31st were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, August 29th. Crane’s dividend payout ratio is presently 26.04%.
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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