AQR Capital Management LLC Has $114.77 Million Position in Crane Company (CR)

AQR Capital Management LLC increased its position in shares of Crane Company (NYSE:CR) by 31.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,533,772 shares of the conglomerate’s stock after buying an additional 369,589 shares during the period. AQR Capital Management LLC owned approximately 2.58% of Crane Company worth $114,772,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CR. Gotham Asset Management LLC boosted its stake in shares of Crane Company by 66.9% in the first quarter. Gotham Asset Management LLC now owns 329,003 shares of the conglomerate’s stock worth $24,619,000 after buying an additional 131,833 shares during the period. Highbridge Capital Management LLC boosted its stake in shares of Crane Company by 123.3% in the first quarter. Highbridge Capital Management LLC now owns 86,293 shares of the conglomerate’s stock worth $6,458,000 after buying an additional 47,650 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Crane Company by 10.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 285,167 shares of the conglomerate’s stock worth $21,340,000 after buying an additional 26,035 shares during the period. Amalgamated Bank boosted its stake in shares of Crane Company by 3.0% in the first quarter. Amalgamated Bank now owns 7,732 shares of the conglomerate’s stock worth $579,000 after buying an additional 227 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Crane Company by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after buying an additional 3,955,159 shares during the period. Hedge funds and other institutional investors own 69.08% of the company’s stock.

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

Shares of Crane Company (CR) traded up 0.84% during trading on Friday, hitting $79.40. The stock had a trading volume of 840,415 shares. Crane Company has a one year low of $54.05 and a one year high of $82.35. The stock has a 50 day moving average price of $78.43 and a 200-day moving average price of $75.28. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 36.07 and a beta of 1.06.

Crane Company (NYSE:CR) last issued its quarterly earnings data on Monday, April 24th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. The business had revenue of $673.40 million for the quarter, compared to analyst estimates of $655.84 million. Crane Company had a return on equity of 20.85% and a net margin of 4.74%. Crane Company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. On average, equities research analysts predict that Crane Company will post $4.50 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Wednesday, May 31st were given a dividend of $0.33 per share. The ex-dividend date was Friday, May 26th. This represents a $1.32 dividend on an annualized basis and a yield of 1.66%. Crane Company’s dividend payout ratio is currently 60.55%.

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A number of equities analysts have commented on CR shares. Zacks Investment Research raised Crane Company from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Wednesday. ValuEngine raised Crane Company from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Canaccord Genuity raised Crane Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $78.00 to $92.00 in a research note on Tuesday, May 16th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $90.00 price objective (up previously from $82.00) on shares of Crane Company in a research note on Monday, May 1st. Finally, TheStreet raised Crane Company from a “c+” rating to a “b+” rating in a research note on Monday, April 24th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Crane Company has a consensus rating of “Buy” and an average target price of $73.40.

In related news, Director Philip R. Lochner sold 2,000 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $80.21, for a total transaction of $160,420.00. Following the sale, the director now owns 2,350 shares in the company, valued at approximately $188,493.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard A. Maue sold 14,528 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $79.83, for a total value of $1,159,770.24. Following the sale, the vice president now owns 28,906 shares in the company, valued at approximately $2,307,565.98. The disclosure for this sale can be found here. Insiders have sold a total of 26,392 shares of company stock worth $2,109,190 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

About Crane Company

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including 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.

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