State Board of Administration of Florida Retirement System Trims Holdings in Crane Holdings, Co. (NYSE:CR)

State Board of Administration of Florida Retirement System cut its holdings in Crane Holdings, Co. (NYSE:CRGet Rating) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,289 shares of the conglomerate’s stock after selling 1,455 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.08% of Crane worth $4,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CR. DekaBank Deutsche Girozentrale grew its position in shares of Crane by 1,289.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,446 shares of the conglomerate’s stock worth $1,040,000 after buying an additional 8,766 shares during the period. SG Americas Securities LLC grew its position in Crane by 20.6% during the 1st quarter. SG Americas Securities LLC now owns 15,751 shares of the conglomerate’s stock valued at $1,706,000 after purchasing an additional 2,688 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Crane by 7.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 74,625 shares of the conglomerate’s stock valued at $8,080,000 after purchasing an additional 5,171 shares during the last quarter. Roosevelt Investment Group LLC purchased a new stake in Crane during the 1st quarter valued at about $979,000. Finally, WBI Investments Inc. purchased a new stake in Crane during the 1st quarter valued at about $1,598,000. 69.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crane

In other news, CEO Max H. Mitchell sold 117,103 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $104.40, for a total value of $12,225,553.20. Following the transaction, the chief executive officer now owns 347,460 shares in the company, valued at approximately $36,274,824. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Crane news, CFO Richard A. Maue sold 5,907 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $104.31, for a total transaction of $616,159.17. Following the sale, the chief financial officer now owns 79,147 shares in the company, valued at approximately $8,255,823.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Max H. Mitchell sold 117,103 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $104.40, for a total transaction of $12,225,553.20. Following the sale, the chief executive officer now owns 347,460 shares in the company, valued at approximately $36,274,824. The disclosure for this sale can be found here. Insiders have sold 180,522 shares of company stock worth $18,813,349 in the last quarter. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CR. UBS Group cut their price objective on shares of Crane from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. StockNews.com downgraded shares of Crane from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 26th. Stifel Nicolaus cut their price objective on shares of Crane from $123.00 to $121.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Finally, TheStreet raised shares of Crane from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.67.

Crane Stock Performance

Shares of NYSE CR opened at $105.37 on Tuesday. The firm’s 50-day moving average price is $95.70 and its 200-day moving average price is $94.70. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.49. The company has a market cap of $5.92 billion, a PE ratio of 15.27, a PEG ratio of 1.46 and a beta of 1.53. Crane Holdings, Co. has a 52-week low of $82.14 and a 52-week high of $114.87.

Crane (NYSE:CRGet Rating) last issued its quarterly earnings data on Monday, October 24th. The conglomerate reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.01. Crane had a net margin of 12.25% and a return on equity of 22.03%. The firm had revenue of $815.00 million for the quarter, compared to analysts’ expectations of $816.62 million. During the same quarter in the prior year, the business earned $1.89 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, analysts anticipate that Crane Holdings, Co. will post 7.65 EPS for the current year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 30th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, November 29th. Crane’s dividend payout ratio (DPR) is presently 27.25%.

About Crane

(Get Rating)

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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