Price Capital Management Inc. Takes Position in Crane Co. (CR)

Price Capital Management Inc. bought a new stake in shares of Crane Co. (NYSE:CR) in the 4th quarter, Holdings Channel reports. The fund bought 7,258 shares of the conglomerate’s stock, valued at approximately $648,000.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Crane by 13.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock valued at $115,195,000 after acquiring an additional 167,051 shares during the period. State Street Corp grew its stake in Crane by 2.1% in the 2nd quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after acquiring an additional 26,771 shares during the period. Gabelli Funds LLC grew its stake in Crane by 0.4% in the 3rd quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock valued at $90,797,000 after acquiring an additional 4,000 shares during the period. Victory Capital Management Inc. grew its stake in Crane by 31.9% in the 4th quarter. Victory Capital Management Inc. now owns 874,707 shares of the conglomerate’s stock valued at $78,041,000 after acquiring an additional 211,710 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Crane by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 647,568 shares of the conglomerate’s stock valued at $51,798,000 after acquiring an additional 5,071 shares during the period. 67.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Crane Co. (NYSE CR) opened at $89.45 on Friday. Crane Co. has a one year low of $70.56 and a one year high of $102.65. The company has a current ratio of 1.81, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37. The stock has a market cap of $5,308.85, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20.

Crane (NYSE:CR) last announced its earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $714.20 million for the quarter, compared to analysts’ expectations of $702.50 million. During the same quarter in the previous year, the company posted $1.02 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. sell-side analysts forecast that Crane Co. will post 5.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, February 27th. This is a boost from Crane’s previous quarterly dividend of $0.33. Crane’s payout ratio is 46.48%.

CR has been the topic of a number of research analyst reports. Canaccord Genuity dropped their price target on shares of Crane from $100.00 to $99.95 in a research note on Wednesday, January 31st. Stifel Nicolaus raised shares of Crane from a “hold” rating to a “buy” rating and lifted their price target for the company from $99.00 to $113.00 in a research note on Wednesday, January 31st. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. UBS Group assumed coverage on shares of Crane in a research note on Tuesday, January 23rd. They set a “neutral” rating and a $100.00 target price on the stock. Finally, Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Friday, February 2nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $106.28.

In other news, Director James L. L. Tullis sold 2,000 shares of the business’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 owns 2,110 shares of the company’s stock, valued at approximately $171,838.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Augustus I. Dupont sold 16,396 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 102,994 shares in the company, valued at approximately $10,066,633.56. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

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Crane 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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Institutional Ownership by Quarter for Crane (NYSE:CR)

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