Crane Company (CR) Position Lowered by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc cut its stake in shares of Crane Company (NYSE:CR) by 41.9% during the third quarter, Holdings Channel reports. The fund owned 27,205 shares of the company’s stock after selling 19,585 shares during the period. Bragg Financial Advisors Inc’s holdings in Crane Company were worth $1,714,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CR. TradeLink Capital LLC acquired a new stake in Crane Company during the second quarter worth $234,000. Neuberger Berman Group LLC boosted its stake in Crane Company by 73.1% in the second quarter. Neuberger Berman Group LLC now owns 7,297 shares of the company’s stock worth $414,000 after buying an additional 3,081 shares during the period. Vanguard Group Inc. boosted its stake in Crane Company by 7.4% in the second quarter. Vanguard Group Inc. now owns 3,869,873 shares of the company’s stock worth $219,500,000 after buying an additional 265,637 shares during the period. Freestone Capital Holdings LLC boosted its stake in Crane Company by 1,221.1% in the second quarter. Freestone Capital Holdings LLC now owns 335,531 shares of the company’s stock worth $19,031,000 after buying an additional 310,133 shares during the period. Finally, Zacks Investment Management acquired a new stake in Crane Company during the second quarter worth $8,437,000. 68.18% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Crane Company (NYSE:CR)

Shares of Crane Company (NYSE:CR) opened at 73.65 on Friday. Crane Company has a 52 week low of $47.16 and a 52 week high of $78.94. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 35.58 and a beta of 1.19. The stock’s 50 day moving average price is $73.36 and its 200-day moving average price is $68.35.

Crane Company (NYSE:CR) last announced its earnings results on Monday, January 30th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. The business had revenue of $681 million for the quarter, compared to analyst estimates of $664.63 million. Crane Company had a return on equity of 20.23% and a net margin of 4.47%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. Equities analysts predict that Crane Company will post $4.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Tuesday, February 28th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 1.79%. Crane Company’s dividend payout ratio is currently 64.08%.

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Several research firms have weighed in on CR. Credit Suisse Group set a $8.00 price objective on Crane Company and gave the stock a “hold” rating in a research report on Sunday, November 6th. Zacks Investment Research upgraded Crane Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 2nd. TheStreet cut Crane Company from a “b+” rating to a “c+” rating in a research report on Tuesday, January 31st. Seaport Global Securities cut Crane Company from an “accumulate” rating to a “neutral” rating and increased their price objective for the stock from $71.00 to $72.00 in a research report on Wednesday, February 1st. Finally, Oppenheimer Holdings, Inc. upgraded Crane Company from a “market perform” rating to an “outperform” rating and set a $82.00 price objective on the stock in a research report on Wednesday, February 1st. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.07.

In other news, VP A D. Pantaleoni sold 5,000 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $74.29, for a total value of $371,450.00. Following the completion of the transaction, the vice president now directly owns 9,876 shares in the company, valued at approximately $733,688.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas J. Craney sold 4,176 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $74.18, for a total value of $309,775.68. Following the completion of the transaction, the insider now owns 15,062 shares of the company’s stock, valued at $1,117,299.16. The disclosure for this sale can be found here. Insiders sold a total of 61,618 shares of company stock worth $4,613,587 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Crane Company 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.

5 Day Chart for NYSE:CR

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