Crane Company (CR) VP Sells $518,210.00 in Stock
Crane Company (NYSE:CR) VP Edward S. Switter sold 7,000 shares of Crane stock in a transaction that occurred 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 completion of the sale, the vice president now owns 23,873 shares of the company’s stock, valued at approximately $1,767,318.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Crane Company (NYSE CR) opened at 74.31 on Monday. Crane Company has a 1-year low of $59.81 and a 1-year high of $84.34. The firm has a market cap of $4.43 billion, a P/E ratio of 33.85 and a beta of 1.11. The firm has a 50 day moving average of $76.44 and a 200 day moving average of $76.75.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.17. Crane had a net margin of 4.79% and a return on equity of 20.57%. The company had revenue of $702.50 million during the quarter, compared to analyst estimates of $702.53 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Crane Company will post $4.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s payout ratio is currently 60.83%.
Several institutional investors have recently added to or reduced their stakes in CR. BlackRock Inc. increased its position in shares of Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after acquiring an additional 3,955,159 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Crane by 115.7% in the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after acquiring an additional 682,934 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Crane by 148.3% in the first quarter. Systematic Financial Management LP now owns 661,439 shares of the conglomerate’s stock worth $49,495,000 after acquiring an additional 395,055 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock worth $114,772,000 after acquiring an additional 369,589 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Crane by 69.0% in the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after acquiring an additional 261,354 shares in the last quarter. 70.70% of the stock is owned by institutional investors.
Several analysts recently weighed in on CR shares. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Thursday, May 18th. Canaccord Genuity upgraded shares of Crane from a “hold” rating to a “buy” rating and lifted their target price for the company from $78.00 to $92.00 in a report on Tuesday, May 16th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $84.00 target price on shares of Crane in a report on Thursday, July 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $76.88.
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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