Brandywine Global Investment Management LLC trimmed its stake in Crane Co. (NYSE:CR) by 14.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 145,101 shares of the conglomerate’s stock after selling 24,679 shares during the period. Brandywine Global Investment Management LLC’s holdings in Crane were worth $12,946,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. purchased a new stake in shares of Crane in the 3rd quarter valued at approximately $344,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Crane by 51.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock valued at $240,000 after acquiring an additional 917 shares during the period. AXA raised its stake in shares of Crane by 3.6% in the 3rd quarter. AXA now owns 113,700 shares of the conglomerate’s stock valued at $9,095,000 after acquiring an additional 4,000 shares during the period. Legal & General Group Plc raised its stake in shares of Crane by 9.8% in the 3rd quarter. Legal & General Group Plc now owns 59,302 shares of the conglomerate’s stock valued at $4,744,000 after acquiring an additional 5,274 shares during the period. Finally, HAP Trading LLC purchased a new stake in shares of Crane in the 3rd quarter valued at approximately $3,120,000. 69.36% of the stock is currently owned by institutional investors and hedge funds.
Crane Co. (CR) opened at $95.89 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.81 and a debt-to-equity ratio of 0.37. The firm has a market cap of $5,760.00, a P/E ratio of 22.30, a P/E/G ratio of 1.35 and a beta of 1.23. Crane Co. has a twelve month low of $70.56 and a twelve month high of $102.65.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Crane’s previous quarterly dividend of $0.33. Crane’s payout ratio is 32.56%.
In other Crane news, Director E Thayer Bigelow sold 1,125 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.74, for a total transaction of $106,582.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brendan Curran sold 16,356 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $93.87, for a total transaction of $1,535,337.72. Following the transaction, the insider now 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 a total of 46,861 shares of company stock valued at $4,476,647 in the last quarter. 3.10% of the stock is currently owned by company insiders.
CR has been the topic of a number of research analyst reports. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Bank of America boosted their price target on shares of Crane from $104.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Oppenheimer restated a “buy” rating on shares of Crane in a report on Tuesday, December 5th. Finally, UBS Group initiated coverage on shares of Crane in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $100.00 price objective for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $106.29.
TRADEMARK VIOLATION NOTICE: “Crane Co. (CR) Shares Sold by Brandywine Global Investment Management LLC” was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://sportsperspectives.com/2018/03/13/crane-co-cr-shares-sold-by-brandywine-global-investment-management-llc.html.
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.
Want to see what other hedge funds are holding CR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crane Co. (NYSE:CR).
Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.