Crane Co. (NYSE:CR) – DA Davidson lowered their Q3 2019 earnings per share estimates for shares of Crane in a research report issued on Wednesday, October 24th. DA Davidson analyst M. Summerville now forecasts that the conglomerate will post earnings per share of $1.57 for the quarter, down from their previous estimate of $1.58.
Crane (NYSE:CR) last posted its earnings results on Monday, October 22nd. The conglomerate reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Crane had a net margin of 6.76% and a return on equity of 23.29%. The firm had revenue of $855.80 million for the quarter, compared to the consensus estimate of $855.87 million. During the same period in the previous year, the firm posted $1.13 EPS. The business’s quarterly revenue was up 23.0% on a year-over-year basis.
Crane stock opened at $86.81 on Monday. Crane has a twelve month low of $78.93 and a twelve month high of $102.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.19 and a current ratio of 1.68. The stock has a market capitalization of $5.18 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25.
Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Crane by 37.2% in the 2nd quarter. FMR LLC now owns 1,205,673 shares of the conglomerate’s stock valued at $96,610,000 after buying an additional 326,859 shares during the period. Dudley & Shanley Inc. boosted its position in Crane by 734.4% in the 3rd quarter. Dudley & Shanley Inc. now owns 222,422 shares of the conglomerate’s stock valued at $21,875,000 after buying an additional 195,765 shares during the period. Robecosam AG boosted its position in Crane by 142.7% in the 2nd quarter. Robecosam AG now owns 237,759 shares of the conglomerate’s stock valued at $19,021,000 after buying an additional 139,815 shares during the period. BlackRock Inc. boosted its position in Crane by 3.0% in the 2nd quarter. BlackRock Inc. now owns 4,431,531 shares of the conglomerate’s stock valued at $355,098,000 after buying an additional 128,447 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Crane by 367.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 144,377 shares of the conglomerate’s stock valued at $14,199,000 after buying an additional 113,497 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Brendan Curran sold 3,000 shares of Crane stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $91.07, for a total transaction of $273,210.00. Following the completion of the transaction, the insider now directly owns 14,346 shares of the company’s stock, valued at approximately $1,306,490.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bradley Ellis sold 11,763 shares of Crane stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $90.53, for a total transaction of $1,064,904.39. Following the transaction, the insider now directly owns 164,937 shares of the company’s stock, valued at $14,931,746.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,763 shares of company stock valued at $1,607,454. 3.00% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.61%. Crane’s dividend payout ratio is presently 30.91%.
Crane Company Profile
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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