Strs Ohio Sells 10,272 Shares of Crane $CR

Strs Ohio cut its position in Crane (NYSE:CR) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,076 shares of the conglomerate’s stock after selling 10,272 shares during the period. Strs Ohio’s holdings in Crane were worth $9,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CR. Norges Bank bought a new stake in shares of Crane in the 2nd quarter valued at $190,533,000. Geode Capital Management LLC grew its stake in Crane by 0.6% in the second quarter. Geode Capital Management LLC now owns 864,230 shares of the conglomerate’s stock valued at $164,135,000 after acquiring an additional 4,744 shares during the period. Select Equity Group L.P. increased its holdings in shares of Crane by 1.1% in the second quarter. Select Equity Group L.P. now owns 736,943 shares of the conglomerate’s stock worth $139,938,000 after acquiring an additional 8,151 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Crane by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 440,817 shares of the conglomerate’s stock worth $67,524,000 after acquiring an additional 84,278 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Crane by 4.6% during the second quarter. American Century Companies Inc. now owns 326,133 shares of the conglomerate’s stock worth $61,929,000 after purchasing an additional 14,324 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Performance

Shares of CR stock opened at $204.51 on Monday. The company’s fifty day simple moving average is $190.51 and its 200-day simple moving average is $188.49. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a market cap of $11.78 billion, a PE ratio of 27.09, a P/E/G ratio of 1.93 and a beta of 1.24. Crane has a 12 month low of $127.04 and a 12 month high of $214.31.

Crane (NYSE:CR) last released its earnings results on Monday, October 27th. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $589.20 million during the quarter, compared to the consensus estimate of $578.54 million. During the same quarter last year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CR has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Crane in a research report on Monday, December 29th. CJS Securities upgraded shares of Crane to a “strong-buy” rating in a report on Thursday, December 11th. Stifel Nicolaus increased their price objective on shares of Crane from $200.00 to $201.00 and gave the stock a “hold” rating in a research report on Friday. Wolfe Research set a $215.00 price objective on shares of Crane and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, DA Davidson set a $235.00 target price on shares of Crane in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $222.00.

About Crane

Crane Co, headquartered in Stamford, Connecticut, is a diversified manufacturer of engineered industrial products serving customers around the world. The company operates through two primary segments: Aerospace & Electronics and Engineered Materials. Its Aerospace & Electronics division designs and produces valves, fittings, manifolds, and filtration systems for aircraft fuel, hydraulics, and environmental control systems. The Engineered Materials segment focuses on advanced polymers, heat exchangers, and specialized composite solutions for industries including chemical processing, semiconductor manufacturing, and power generation.

With roots dating back to its founding in 1855 in Chicago by R.T.