BlackRock Inc. grew its stake in Crane Co. (NYSE:CR) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,303,084 shares of the conglomerate’s stock after acquiring an additional 93,264 shares during the period. BlackRock Inc. owned 7.21% of Crane worth $399,069,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in Crane by 4.9% in the 1st quarter. Victory Capital Management Inc. now owns 917,717 shares of the conglomerate’s stock worth $85,109,000 after acquiring an additional 43,010 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Crane by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 445,196 shares of the conglomerate’s stock worth $39,720,000 after purchasing an additional 14,524 shares during the period. Martingale Asset Management L P lifted its position in shares of Crane by 8.7% in the 4th quarter. Martingale Asset Management L P now owns 419,745 shares of the conglomerate’s stock worth $37,451,000 after purchasing an additional 33,505 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Crane by 8.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 415,209 shares of the conglomerate’s stock worth $37,045,000 after purchasing an additional 32,914 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Crane in the 1st quarter worth approximately $36,264,000. Institutional investors and hedge funds own 69.26% of the company’s stock.
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NYSE:CR opened at $85.53 on Friday. Crane Co. has a 52 week low of $71.23 and a 52 week high of $102.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.79 and a quick ratio of 1.35. The company has a market cap of $5.07 billion, a P/E ratio of 18.88, a PEG ratio of 1.46 and a beta of 1.20.
Crane (NYSE:CR) last posted its earnings results on Monday, April 23rd. The conglomerate reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. Crane had a net margin of 6.09% and a return on equity of 21.08%. The company had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $802.47 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. Crane’s revenue for the quarter was up 18.7% compared to the same quarter last year. equities analysts anticipate that Crane Co. will post 5.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 31st will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 30th. This represents a $1.40 dividend on an annualized basis and a yield of 1.64%. Crane’s payout ratio is 30.91%.
CR has been the subject of several research reports. DA Davidson initiated coverage on shares of Crane in a research report on Wednesday, March 21st. They issued a “buy” rating and a $108.00 price target for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $110.00 price target on shares of Crane in a research report on Monday, March 12th. Finally, Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research report on Friday, March 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $105.89.
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.