Hsbc Holdings PLC reduced its holdings in shares of Crane Co. (NYSE:CR) by 64.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,929 shares of the conglomerate’s stock after selling 32,626 shares during the quarter. Hsbc Holdings PLC’s holdings in Crane were worth $1,663,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in Crane by 732.8% during the first quarter. BNP Paribas Arbitrage SA now owns 89,198 shares of the conglomerate’s stock worth $8,272,000 after purchasing an additional 78,488 shares during the last quarter. Quantbot Technologies LP lifted its stake in Crane by 1,590.0% during the first quarter. Quantbot Technologies LP now owns 13,571 shares of the conglomerate’s stock worth $1,258,000 after purchasing an additional 12,768 shares during the last quarter. California Public Employees Retirement System lifted its stake in Crane by 8.2% during the first quarter. California Public Employees Retirement System now owns 150,537 shares of the conglomerate’s stock worth $13,961,000 after purchasing an additional 11,369 shares during the last quarter. CHICAGO TRUST Co NA bought a new position in Crane during the first quarter worth $230,000. Finally, First Republic Investment Management Inc. lifted its stake in Crane by 16.0% during the first quarter. First Republic Investment Management Inc. now owns 6,760 shares of the conglomerate’s stock worth $627,000 after purchasing an additional 934 shares during the last quarter. Institutional investors own 69.26% of the company’s stock.
CR stock opened at $85.35 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.35 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.47 and a beta of 1.20. Crane Co. has a 1 year low of $71.23 and a 1 year high of $102.65.
Crane (NYSE:CR) last posted its earnings results on Monday, April 23rd. The conglomerate reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. The company had revenue of $799.00 million for the quarter, compared to analysts’ expectations of $802.47 million. Crane had a return on equity of 21.08% and a net margin of 6.09%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. analysts predict that Crane Co. will post 5.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Thursday, May 31st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Wednesday, May 30th. Crane’s payout ratio is 30.91%.
Several brokerages recently issued reports on CR. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Wednesday, June 6th. DA Davidson set a $111.00 price objective on Crane and gave the stock a “buy” rating in a research note on Friday, May 25th. ValuEngine cut Crane from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Finally, Susquehanna Bancshares upgraded Crane from a “neutral” rating to a “positive” rating and set a $104.00 price objective on the stock in a research note on Wednesday, April 25th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Crane has a consensus rating of “Buy” and an average 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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