State of Alaska Department of Revenue Purchases 2,053 Shares of Crane Holdings, Co. (NYSE:CR)

State of Alaska Department of Revenue grew its stake in Crane Holdings, Co. (NYSE:CRGet Rating) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,570 shares of the conglomerate’s stock after purchasing an additional 2,053 shares during the quarter. State of Alaska Department of Revenue’s holdings in Crane were worth $5,303,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CR. Clark Capital Management Group Inc. raised its holdings in Crane by 2,532.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 250,665 shares of the conglomerate’s stock worth $25,500,000 after purchasing an additional 241,144 shares in the last quarter. Walleye Capital LLC raised its holdings in Crane by 281.4% in the 1st quarter. Walleye Capital LLC now owns 190,698 shares of the conglomerate’s stock worth $20,649,000 after purchasing an additional 140,703 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Crane by 1,548.2% in the 1st quarter. Pacer Advisors Inc. now owns 85,046 shares of the conglomerate’s stock worth $9,209,000 after purchasing an additional 79,886 shares in the last quarter. Invesco Ltd. raised its holdings in Crane by 10.8% in the 1st quarter. Invesco Ltd. now owns 656,264 shares of the conglomerate’s stock worth $71,060,000 after purchasing an additional 63,832 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in Crane by 17.3% in the 4th quarter. Schroder Investment Management Group now owns 387,036 shares of the conglomerate’s stock worth $39,373,000 after purchasing an additional 57,103 shares in the last quarter. 69.62% of the stock is currently owned by institutional investors.

Crane Stock Down 1.4 %

Shares of Crane stock opened at $90.35 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.04 and a quick ratio of 1.52. The company has a 50-day moving average of $96.91 and a 200 day moving average of $97.27. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 1.24 and a beta of 1.57. Crane Holdings, Co. has a 1 year low of $82.14 and a 1 year high of $114.87.

Crane (NYSE:CRGet Rating) last issued its quarterly earnings results on Monday, July 25th. The conglomerate reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.12. Crane had a net margin of 17.56% and a return on equity of 22.10%. The company had revenue of $864.30 million during the quarter, compared to analyst estimates of $821.76 million. During the same period last year, the business earned $1.83 EPS. Crane’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crane Holdings, Co. will post 7.68 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 31st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.08%. The ex-dividend date was Tuesday, August 30th. Crane’s dividend payout ratio (DPR) is 18.95%.

Analysts Set New Price Targets

Several research analysts have commented on CR shares. UBS Group decreased their price objective on shares of Crane from $130.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, July 28th. StockNews.com upgraded shares of Crane from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $125.00.

Insider Activity at Crane

In related news, CFO Richard A. Maue sold 10,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $101.78, for a total transaction of $1,017,800.00. Following the sale, the chief financial officer now directly owns 77,420 shares of the company’s stock, valued at approximately $7,879,807.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Alejandro Alcala sold 21,863 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $104.13, for a total transaction of $2,276,594.19. Following the sale, the senior vice president now owns 22,177 shares of the company’s stock, valued at approximately $2,309,291.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard A. Maue sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $101.78, for a total transaction of $1,017,800.00. Following the sale, the chief financial officer now directly owns 77,420 shares in the company, valued at approximately $7,879,807.60. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Crane Profile

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Crane Holdings Co, together with its subsidiaries, manufactures and sells engineered industrial products in the Americas, Europe, the Middle East, Asia, and Australia. The company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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