Griffin Asset Management Inc. trimmed its position in Crane Holdings, Co. (NYSE:CR – Get Rating) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 39,566 shares of the conglomerate's stock after selling 521 shares during the quarter. Griffin Asset Management Inc.'s holdings in Crane were worth $3,464,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in CR. Walleye Capital LLC grew its stake in shares of 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 purchasing an additional 140,703 shares during the period. Pacer Advisors Inc. grew its holdings in Crane by 1,548.2% during the first quarter. Pacer Advisors Inc. now owns 85,046 shares of the conglomerate's stock valued at $9,209,000 after purchasing an additional 79,886 shares during the period. Invesco Ltd. grew its holdings in shares of Crane by 10.8% in the 1st quarter. Invesco Ltd. now owns 656,264 shares of the conglomerate's stock valued at $71,060,000 after buying an additional 63,832 shares during the period. Prudential Financial Inc. increased its holdings in shares of Crane by 48.9% in the first quarter. Prudential Financial Inc. now owns 161,042 shares of the conglomerate's stock worth $17,438,000 after acquiring an additional 52,922 shares in the last quarter. Finally, State Street Corp raised its position in shares of Crane by 3.9% during the first quarter. State Street Corp now owns 1,382,235 shares of the conglomerate's stock worth $149,668,000 after purchasing an additional 51,792 shares during the period. Institutional investors own 69.62% of the company's stock.
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Insider Transactions at Crane
In other Crane news, CFO Richard A. Maue sold 10,000 shares of the company's stock in a transaction on Wednesday, August 24th. The shares were 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 in the company, valued at $7,879,807.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Crane news, SVP Alejandro Alcala sold 21,863 shares of the 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 transaction, the senior vice president now owns 22,177 shares in the company, valued at approximately $2,309,291.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Maue sold 10,000 shares of Crane 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 sale, the chief financial officer now directly owns 77,420 shares of the company's stock, valued at approximately $7,879,807.60. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
Crane Stock Down 0.5 %
NYSE:CR traded down $0.43 on Tuesday, hitting $85.57. 9,200 shares of the company's stock were exchanged, compared to its average volume of 172,319. The company has a market cap of $4.80 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.57. The firm has a 50-day moving average price of $96.81 and a 200-day moving average price of $96.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.04 and a quick ratio of 1.52. Crane Holdings, Co. has a 52 week low of $82.14 and a 52 week high of $114.87.
Crane (NYSE:CR – Get Rating) last posted its quarterly earnings results on Monday, July 25th. The conglomerate reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.12. Crane had a return on equity of 22.10% and a net margin of 17.56%. The firm had revenue of $864.30 million for the quarter, compared to analyst estimates of $821.76 million. During the same quarter in the previous year, the firm earned $1.83 EPS. The business's quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts expect that Crane Holdings, Co. will post 7.68 EPS for the current fiscal year.
Crane Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 31st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. Crane's payout ratio is 18.95%.
Analyst Ratings Changes
CR has been the subject of a number of research reports. UBS Group lowered their target price on Crane from $130.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, July 28th. StockNews.com upgraded shares of Crane from a "buy" rating to a "strong-buy" rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $125.00.
Crane Company 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.
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