Bank of Montreal Can decreased its position in Crane Co. (NYSE:CR) by 19.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,889 shares of the company’s stock after selling 1,200 shares during the period. Bank of Montreal Can’s holdings in Crane were worth $308,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Boston Advisors LLC acquired a new position in Crane during the second quarter worth $9,568,000. Oakbrook Investments LLC raised its position in Crane by 16.0% in the second quarter. Oakbrook Investments LLC now owns 5,081 shares of the company’s stock worth $288,000 after buying an additional 700 shares during the last quarter. LS Investment Advisors LLC raised its position in Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock worth $173,000 after buying an additional 1,305 shares during the last quarter. Palo Capital Inc. raised its position in Crane by 138.3% in the second quarter. Palo Capital Inc. now owns 13,518 shares of the company’s stock worth $766,000 after buying an additional 7,846 shares during the last quarter. Finally, Perkins Capital Management Inc. acquired a new position in Crane during the second quarter worth $465,000. Institutional investors own 67.23% of the company’s stock.
Shares of Crane Co. (NYSE:CR) traded up 0.24% during mid-day trading on Friday, hitting $75.85. The company had a trading volume of 119,704 shares. The company’s 50-day moving average is $67.47 and its 200 day moving average is $62.08. The company has a market capitalization of $4.45 billion, a PE ratio of 17.76 and a beta of 1.13. Crane Co. has a one year low of $41.68 and a one year high of $76.09.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 24th. The company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.06. The business had revenue of $694 million for the quarter, compared to analyst estimates of $666.89 million. Crane had a return on equity of 20.59% and a net margin of 9.17%. Crane’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted ($0.13) earnings per share. On average, equities research analysts forecast that Crane Co. will post $4.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. Crane’s dividend payout ratio (DPR) is currently 30.99%.
A number of research firms recently weighed in on CR. Oppenheimer Holdings Inc. began coverage on Crane in a report on Thursday, November 17th. They set a “market perform” rating on the stock. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Credit Suisse Group AG set a $8.00 price objective on Crane and gave the company a “hold” rating in a report on Sunday, November 6th. Canaccord Genuity upped their price objective on Crane from $65.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, October 26th. Finally, Stifel Nicolaus upped their price objective on Crane from $65.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, October 26th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Crane presently has a consensus rating of “Hold” and an average target price of $60.08.
In related news, VP Augustus I. Dupont sold 3,000 shares of Crane stock in a transaction on Monday, October 31st. The stock was sold at an average price of $68.29, for a total transaction of $204,870.00. Following the sale, the vice president now directly owns 93,753 shares in the company, valued at $6,402,392.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP A D. Pantaleoni sold 5,000 shares of Crane stock in a transaction on Monday, November 21st. The stock was sold at an average price of $74.29, for a total value of $371,450.00. Following the sale, the vice president now owns 9,876 shares in the company, valued at $733,688.04. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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.