Clark Estates Inc. NY reduced its stake in shares of Crane Co. (NYSE:CR) by 21.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,600 shares of the conglomerate’s stock after selling 12,000 shares during the period. Clark Estates Inc. NY owned approximately 0.08% of Crane worth $3,337,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its position in Crane by 80.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,114 shares of the conglomerate’s stock worth $147,000 after buying an additional 944 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Crane by 234.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,498 shares of the conglomerate’s stock worth $158,000 after buying an additional 1,750 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Crane during the fourth quarter worth approximately $216,000. Stanley Laman Group Ltd. acquired a new position in Crane during the third quarter worth approximately $192,000. Finally, LS Investment Advisors LLC raised its position in Crane by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,226 shares of the conglomerate’s stock worth $203,000 after buying an additional 170 shares in the last quarter. 68.63% of the stock is currently owned by institutional investors.
Crane Co. (NYSE:CR) traded down 0.56% during midday trading on Friday, hitting $76.54. 279,245 shares of the stock were exchanged. The company has a market capitalization of $4.53 billion, a P/E ratio of 36.98 and a beta of 1.19. Crane Co. has a 1-year low of $53.40 and a 1-year high of $78.93. The company’s 50 day moving average is $74.20 and its 200 day moving average is $71.99.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, January 30th. The conglomerate reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.04. The firm earned $681 million during the quarter, compared to analyst estimates of $664.63 million. Crane had a return on equity of 20.23% and a net margin of 4.47%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Analysts predict that Crane Co. will post $4.45 earnings per share for the current fiscal year.
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A number of research firms recently commented on CR. Zacks Investment Research raised shares of Crane from a “sell” rating to a “hold” rating in a research report on Thursday, February 2nd. TheStreet downgraded shares of Crane from a “b+” rating to a “c+” rating in a research note on Tuesday, January 31st. Seaport Global Securities downgraded shares of Crane from an “accumulate” rating to a “neutral” rating and increased their price objective for the stock from $71.00 to $72.00 in a research note on Wednesday, February 1st. William Blair started coverage on shares of Crane in a research note on Thursday, February 2nd. They set a “market perform” rating on the stock. Finally, Oppenheimer Holdings Inc. upgraded shares of Crane from a “market perform” rating to an “outperform” rating and set a $82.00 price objective on the stock in a research note on Wednesday, February 1st. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $68.08.
In other news, insider Louis V. Pinkham sold 34,948 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $75.08, for a total transaction of $2,623,895.84. Following the completion of the sale, the insider now owns 24,611 shares of the company’s stock, valued at $1,847,793.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kristian Robert Salovaara sold 15,494 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $74.85, for a total value of $1,159,725.90. Following the sale, the vice president now directly owns 29,280 shares of the company’s stock, valued at approximately $2,191,608. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,487 shares of company stock valued at $5,158,880. Insiders own 3.00% 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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