Crane Company (CR) Director Sells $162,880.00 in Stock
Crane Company (NYSE:CR) Director James L. L. Tullis sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total transaction of $162,880.00. Following the transaction, the director now directly owns 2,110 shares of the company’s stock, valued at approximately $171,838.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Crane Company (NYSE:CR) traded down $0.12 during trading hours on Friday, reaching $82.29. 205,793 shares of the company traded hands, compared to its average volume of 320,380. Crane Company has a 52-week low of $67.62 and a 52-week high of $86.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. The firm has a market capitalization of $4,910.00, a price-to-earnings ratio of 18.91, a PEG ratio of 1.81 and a beta of 1.17.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $695.90 million during the quarter, compared to analyst estimates of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 earnings per share. equities research analysts expect that Crane Company will post 4.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.32 annualized dividend and a yield of 1.60%. Crane’s dividend payout ratio is 58.93%.
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A number of brokerages have recently commented on CR. Wolfe Research lowered shares of Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Seaport Global Securities raised shares of Crane from a “neutral” rating to a “buy” rating and upped their price objective for the company from $78.00 to $95.00 in a research report on Thursday, October 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a research report on Tuesday, October 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $84.00 price objective on shares of Crane in a research report on Wednesday, October 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Crane in a research report on Friday, November 3rd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Crane presently has an average rating of “Buy” and a consensus target price of $92.14.
A number of institutional investors have recently modified their holdings of CR. Principal Financial Group Inc. grew its stake in Crane by 115.7% during the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after buying an additional 682,934 shares during the last quarter. Prudential Financial Inc. grew its stake in Crane by 69.0% during the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after buying an additional 261,354 shares during the last quarter. SG Americas Securities LLC grew its stake in Crane by 1,866.9% during the second quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock worth $21,834,000 after buying an additional 261,072 shares during the last quarter. Victory Capital Management Inc. grew its stake in Crane by 50.8% during the third quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after buying an additional 223,225 shares during the last quarter. Finally, FMR LLC grew its stake in Crane by 338.8% during the second quarter. FMR LLC now owns 202,628 shares of the conglomerate’s stock worth $16,085,000 after buying an additional 156,454 shares during the last quarter. 68.91% of the stock is currently owned by hedge funds and other institutional investors.
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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