Gardner Russo Gardner Lowers stake in Crane Co. (CR)

Crane Co. (CR) : Gardner Russo Gardner reduced its stake in Crane Co. by 0.87% during the most recent quarter end. The investment management company now holds a total of 159,341 shares of Crane Co. which is valued at $8.7 Million after selling 1,400 shares in Crane Co. , the firm said in a disclosure report filed with the SEC on May 12, 2016.Crane Co. makes up approximately 0.07% of Gardner Russo Gardner’s portfolio.

Other Hedge Funds, Including , Zebra Capital Management boosted its stake in CR in the latest quarter, The investment management firm added 4,511 additional shares and now holds a total of 19,316 shares of Crane Co. which is valued at $1.1 Million. Crane Co. makes up approx 0.43% of Zebra Capital Management’s portfolio.Ls Investment Advisors boosted its stake in CR in the latest quarter, The investment management firm added 132 additional shares and now holds a total of 1,751 shares of Crane Co. which is valued at $95,797. Crane Co. makes up approx 0.01% of Ls Investment Advisors’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys reduced its stake in CR by selling 5,461 shares or 38.16% in the most recent quarter. The Hedge Fund company now holds 8,848 shares of CR which is valued at $484,074. Crane Co. makes up approx 0.01% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.California Public Employees Retirement System boosted its stake in CR in the latest quarter, The investment management firm added 4,300 additional shares and now holds a total of 161,100 shares of Crane Co. which is valued at $8.7 Million. Crane Co. makes up approx 0.01% of California Public Employees Retirement System’s portfolio.Rhumbline Advisers boosted its stake in CR in the latest quarter, The investment management firm added 1,820 additional shares and now holds a total of 78,014 shares of Crane Co. which is valued at $4.2 Million. Crane Co. makes up approx 0.01% of Rhumbline Advisers’s portfolio.

Crane Co. opened for trading at $54.44 and hit $55.08 on the upside on Friday, eventually ending the session at $54.96, with a gain of 1.55% or 0.84 points. The heightened volatility saw the trading volume jump to 2,07,456 shares. Company has a market cap of $3,204,333 M.

On the company’s financial health, Crane Co. reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.86. The company had revenue of $660.00 million for the quarter, compared to analysts expectations of $644.82 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Investors should note that on Apr 25, 2016, Crane Co. announced a cash dividend of $0.3300. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 10, 2016.

Many Wall Street Analysts have commented on Crane Co.. Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 56 from a previous price target of $48 .Company shares were Downgraded by UBS on Apr 27, 2016 to ” Neutral”, Firm has raised the Price Target to $ 57 from a previous price target of $52 .Company shares were Reiterated by Canaccord Genuity on Apr 27, 2016 to “Hold”, Firm has raised the Price Target to $ 60 from a previous price target of $52 .

Crane Co. (Crane) is a diversified manufacturer of engineered industrial products. The Company operates in four segments: Fluid Handling which is a provider of engineered fluid handling equipment including valves pumps lined pipe and instrumentation for critical performance applications; Payment & Merchandising Technologies which is comprised of Crane Payment Innovations and Merchandising Systems; Aerospace & Electronics which has two groups: the Aerospace Group and the Electronics Group and Engineered Materials which manufactures fiberglass-reinforced plastic panels for the transportation industry RVs and industrial building applications among others. The Company’s markets are chemical and pharmaceutical processing oil and gas refining power nuclear building services and utilities automated payment and merchandising aerospace defense electronics recreational vehicle (RV) non-residential construction and transportation.

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