Crane Company (CR) Stake Held by Gamco Investors, Inc. Et Al
Gamco Investors, Inc. Et Al
disclosed that they own 6.2% of Crane Company (NYSE:CR) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, December 7th. The investor owns 3,650,403 shares of the stock valued at approximately $315,102,787. The reporting parties listed on the disclosure included Gabelli Funds, LLC ID No 134044523, GAMCO Asset Management Inc ID No 134044521, MJGIV Limited Partnership ID No 133191826, GGCP, Inc ID No 133056041, GAMCO Investors, Inc ID No 134007862, Associated Capital Group, Inc ID No 473965991 and Mario J Gabelli. The filing is available through Edgar at this link.
In related news, Director James L. L. Tullis sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the completion of the transaction, the director now owns 2,110 shares of the company’s stock, valued at approximately $171,838.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP A D. Pantaleoni sold 4,650 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $83.11, for a total value of $386,461.50. Following the transaction, the vice president now directly owns 1,076 shares of the company’s stock, valued at approximately $89,426.36. The disclosure for this sale can be found here. Insiders sold a total of 22,403 shares of company stock valued at $1,896,288 in the last three months. Corporate insiders own 3.10% of the company’s stock.
Crane Company (NYSE CR) traded up $3.78 during trading on Thursday, reaching $86.32. The company had a trading volume of 594,400 shares, compared to its average volume of 316,615. Crane Company has a twelve month low of $67.62 and a twelve month high of $87.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. The stock has a market capitalization of $4,898.74, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17.
Crane (NYSE:CR) last issued its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. Crane’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. equities research analysts predict that Crane Company will post 4.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio is currently 59.19%.
Several research analysts recently issued reports on CR shares. Bank of America lifted their target price on Crane from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Canaccord Genuity reissued a “buy” rating on shares of Crane in a research report on Friday, November 3rd. Scotiabank reissued a “buy” rating on shares of Crane in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus boosted their price objective on Crane from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $93.83.
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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