Citigroup Inc. trimmed its position in shares of Crane Co. (NYSE:CR) by 20.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,100 shares of the conglomerate’s stock after selling 2,392 shares during the period. Citigroup Inc.’s holdings in Crane were worth $844,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Crane by 2.2% in the 1st quarter. BlackRock Inc. now owns 4,303,084 shares of the conglomerate’s stock valued at $399,069,000 after acquiring an additional 93,264 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Crane by 4.9% in the 1st quarter. Victory Capital Management Inc. now owns 917,717 shares of the conglomerate’s stock valued at $85,109,000 after acquiring an additional 43,010 shares during the last quarter. Geode Capital Management LLC increased its holdings in Crane by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 445,196 shares of the conglomerate’s stock valued at $39,720,000 after acquiring an additional 14,524 shares during the last quarter. Martingale Asset Management L P increased its holdings in Crane by 8.7% in the 4th quarter. Martingale Asset Management L P now owns 419,745 shares of the conglomerate’s stock valued at $37,451,000 after acquiring an additional 33,505 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in Crane in the 1st quarter valued at $36,264,000. Hedge funds and other institutional investors own 69.26% of the company’s stock.
Shares of Crane opened at $83.95 on Thursday, Marketbeat Ratings reports. Crane Co. has a 52 week low of $71.23 and a 52 week high of $102.65. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.79 and a quick ratio of 1.35.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, April 23rd. The conglomerate reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Crane had a net margin of 6.09% and a return on equity of 21.08%. The business had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $802.47 million. During the same period last year, the company posted $1.05 EPS. The business’s revenue was up 18.7% on a year-over-year basis. research analysts expect that Crane Co. will post 5.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Thursday, May 31st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.67%. Crane’s dividend payout ratio is presently 30.91%.
A number of analysts have issued reports on CR shares. Boenning Scattergood reiterated a “neutral” rating on shares of Crane in a report on Monday, February 26th. Zacks Investment Research cut shares of Crane from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. Canaccord Genuity reissued a “buy” rating and issued a $110.00 price objective on shares of Crane in a research note on Monday, March 12th. UBS Group raised shares of Crane from a “neutral” rating to a “positive” rating in a research note on Wednesday, April 25th. Finally, DA Davidson assumed coverage on shares of Crane in a research note on Wednesday, March 21st. They issued a “buy” rating and a $108.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target 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.
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