Two Sigma Advisers LP increased its position in shares of Crane Co. (NYSE:CR) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,273 shares of the conglomerate’s stock after acquiring an additional 17,278 shares during the quarter. Two Sigma Advisers LP owned approximately 0.16% of Crane worth $7,021,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new stake in shares of Crane in the 4th quarter worth about $34,000. Quantamental Technologies LLC bought a new stake in shares of Crane during the 4th quarter valued at about $42,000. Enlightenment Research LLC bought a new stake in shares of Crane during the 4th quarter valued at about $43,000. SRS Capital Advisors Inc. grew its position in shares of Crane by 183.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 749 shares of the conglomerate’s stock valued at $54,000 after buying an additional 485 shares during the last quarter. Finally, ETF Managers Group LLC grew its position in shares of Crane by 17.3% during the 4th quarter. ETF Managers Group LLC now owns 1,422 shares of the conglomerate’s stock valued at $103,000 after buying an additional 210 shares during the last quarter. Institutional investors own 69.08% of the company’s stock.
A number of equities research analysts recently weighed in on CR shares. ValuEngine downgraded shares of Crane from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Zacks Investment Research reissued a “hold” rating and set a $78.00 target price on shares of Crane in a research note on Monday, December 31st. Raymond James reissued a “hold” rating on shares of Crane in a research note on Thursday, January 10th. BMO Capital Markets reissued a “buy” rating on shares of Crane in a research note on Friday, January 11th. Finally, William Blair lowered shares of Crane from an “outperform” rating to a “market perform” rating and set a $79.14 target price for the company. in a research note on Tuesday, January 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $96.27.
Crane (NYSE:CR) last released its earnings results on Monday, January 28th. The conglomerate reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.10. Crane had a net margin of 10.03% and a return on equity of 24.54%. The business had revenue of $839.70 million for the quarter, compared to the consensus estimate of $862.96 million. During the same period in the previous year, the firm earned $1.18 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts forecast that Crane Co. will post 6.33 EPS for the current year.
In other news, VP James A. Lavish sold 5,150 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $84.94, for a total transaction of $437,441.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Louis V. Pinkham sold 55,103 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $85.03, for a total transaction of $4,685,408.09. The disclosure for this sale can be found here. Insiders have sold 71,149 shares of company stock worth $6,026,127 in the last 90 days. 3.39% of the stock is owned by company insiders.
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Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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