TIAA CREF Investment Management LLC cut its stake in Crane Co. (NYSE:CR) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,428 shares of the conglomerate’s stock after selling 2,851 shares during the period. TIAA CREF Investment Management LLC owned 0.22% of Crane worth $11,904,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of CR. Fruth Investment Management purchased a new stake in Crane in the fourth quarter worth about $205,000. Levin Capital Strategies L.P. purchased a new stake in Crane in the fourth quarter worth about $208,000. Vident Investment Advisory LLC purchased a new stake in Crane in the third quarter worth about $209,000. JOYN Advisors Inc. purchased a new stake in Crane in the fourth quarter worth about $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Crane by 51.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock worth $240,000 after buying an additional 917 shares during the period. Institutional investors and hedge funds own 69.36% of the company’s stock.
Several brokerages have commented on CR. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Boenning Scattergood restated a “hold” rating on shares of Crane in a report on Tuesday, January 30th. Canaccord Genuity restated a “buy” rating and issued a $110.00 price objective on shares of Crane in a report on Monday, March 12th. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, AltaCorp Capital restated a “buy” rating on shares of Crane in a report on Monday, January 15th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $106.50.
Crane (NYSE:CR) last released its earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The firm had revenue of $714.20 million during the quarter, compared to analyst estimates of $702.50 million. During the same period last year, the business earned $1.02 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. sell-side analysts predict that Crane Co. will post 5.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. This is a positive change from Crane’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, February 27th. Crane’s dividend payout ratio (DPR) is presently 30.91%.
In related news, VP Augustus I. Dupont sold 16,396 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the completion of the sale, the vice president now owns 102,994 shares of the company’s stock, valued at $10,066,633.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brendan Curran sold 16,356 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $93.87, for a total transaction of $1,535,337.72. Following the sale, the insider now directly owns 27,702 shares of the company’s stock, valued at approximately $2,600,386.74. The disclosure for this sale can be found here. Insiders have sold 46,861 shares of company stock valued at $4,476,647 over the last quarter. Company insiders own 3.00% of the company’s stock.
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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