Retirement Planning Co of New England Inc. purchased a new position in shares of Crane Co. (NYSE:CR – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 716 shares of the conglomerate’s stock, valued at approximately $72,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CR. CWM LLC acquired a new stake in shares of Crane during the 4th quarter worth approximately $33,000. Paragon Capital Management Ltd acquired a new stake in shares of Crane during the 4th quarter worth approximately $34,000. Quadrant Capital Group LLC boosted its position in Crane by 58.9% in the fourth quarter. Quadrant Capital Group LLC now owns 375 shares of the conglomerate’s stock valued at $38,000 after buying an additional 139 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Crane by 49.3% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 427 shares of the conglomerate’s stock valued at $40,000 after buying an additional 141 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Crane by 215.6% in the third quarter. First Horizon Advisors Inc. now owns 707 shares of the conglomerate’s stock valued at $67,000 after buying an additional 483 shares in the last quarter. Institutional investors and hedge funds own 69.73% of the company’s stock.
A number of analysts have weighed in on CR shares. StockNews.com lowered shares of Crane from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered shares of Crane from a “hold” rating to a “sell” rating and set a $100.00 target price on the stock. in a research report on Thursday. Morgan Stanley raised their target price on shares of Crane from $111.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, January 31st. Finally, Stifel Nicolaus cut their target price on shares of Crane from $137.00 to $134.00 in a research report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $119.60.
Crane (NYSE:CR – Get Rating) last released its quarterly earnings results on Monday, April 25th. The conglomerate reported $1.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.13. Crane had a net margin of 13.49% and a return on equity of 22.54%. The firm had revenue of $801.10 million during the quarter, compared to the consensus estimate of $800.76 million. During the same quarter last year, the firm earned $1.66 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Crane Co. will post 7.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 8th. Investors of record on Tuesday, May 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, May 27th. Crane’s dividend payout ratio is presently 25.68%.
Crane Profile (Get Rating)
Crane Co, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The Aerospace & Electronics segment offers original equipment and aftermarket parts under the Hydro-Aire, ELDEC, Lear Romec, P.L.
- Get a free copy of the StockNews.com research report on Crane (CR)
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