Teachers Retirement System of The State of Kentucky lowered its position in shares of Crane Holdings, Co. (NYSE:CR – Get Rating) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,572 shares of the conglomerate's stock after selling 500 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Crane were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Crane by 14.4% during the first quarter. Bank of America Corp DE now owns 178,953 shares of the conglomerate's stock worth $19,378,000 after purchasing an additional 22,507 shares during the period. Verition Fund Management LLC increased its stake in shares of Crane by 81.0% during the first quarter. Verition Fund Management LLC now owns 4,773 shares of the conglomerate's stock worth $517,000 after purchasing an additional 2,136 shares during the period. Walleye Capital LLC grew its position in Crane by 281.4% during the first quarter. Walleye Capital LLC now owns 190,698 shares of the conglomerate's stock worth $20,649,000 after buying an additional 140,703 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in Crane during the first quarter worth approximately $2,186,000. Finally, M Holdings Securities Inc. acquired a new stake in Crane during the first quarter worth approximately $628,000. Institutional investors own 69.62% of the company's stock.
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Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. UBS Group reduced their price target on Crane from $130.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, July 28th. StockNews.com raised Crane from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $125.00.
Crane Trading Down 1.6 %
Shares of CR stock opened at $86.40 on Monday. The stock's fifty day moving average price is $96.87 and its two-hundred day moving average price is $96.98. The company has a market cap of $4.85 billion, a PE ratio of 8.71, a P/E/G ratio of 1.18 and a beta of 1.57. Crane Holdings, Co. has a fifty-two week low of $82.14 and a fifty-two week high of $114.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.52 and a current ratio of 2.04.
Crane (NYSE:CR – Get Rating) last issued its earnings results on Monday, July 25th. The conglomerate reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.12. The firm had revenue of $864.30 million for the quarter, compared to the consensus estimate of $821.76 million. Crane had a return on equity of 22.10% and a net margin of 17.56%. The company's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. Equities analysts predict that Crane Holdings, Co. will post 7.68 EPS for the current fiscal year.
Crane Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 31st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Tuesday, August 30th. Crane's dividend payout ratio (DPR) is 18.95%.
Insider Activity at Crane
In related news, SVP Alejandro Alcala sold 21,863 shares of the firm's stock in a transaction on Friday, August 19th. The stock was sold at an average price of $104.13, for a total transaction of $2,276,594.19. Following the sale, the senior vice president now owns 22,177 shares of the company's stock, valued at approximately $2,309,291.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Alejandro Alcala sold 21,863 shares of the firm's stock in a transaction on Friday, August 19th. The stock was sold at an average price of $104.13, for a total transaction of $2,276,594.19. Following the completion of the transaction, the senior vice president now directly owns 22,177 shares of the company's stock, valued at approximately $2,309,291.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard A. Maue sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $101.78, for a total value of $1,017,800.00. Following the transaction, the chief financial officer now directly owns 77,420 shares of the company's stock, valued at $7,879,807.60. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Crane Profile
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Crane Holdings Co, together with its subsidiaries, manufactures and sells engineered industrial products in the Americas, Europe, the Middle East, Asia, and Australia. The company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials.
Further Reading
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