Crane Co. (CR) : Freestone Capital Holdings reduced its stake in Crane Co. by 4.72% during the most recent quarter end. The investment management company now holds a total of 319,685 shares of Crane Co. which is valued at $23,870,879 after selling 15,846 shares in Crane Co. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Crane Co. makes up approximately 2.22% of Freestone Capital Holdings’s portfolio.
Other Hedge Funds, Including , Nine Chapters Capital Management added CR to its portfolio by purchasing 3,900 company shares during the most recent quarter which is valued at $283,530. Crane Co. makes up approx 2.02% of Nine Chapters Capital Management’s portfolio.Comerica Bank reduced its stake in CR by selling 24,910 shares or 41.4% in the most recent quarter. The Hedge Fund company now holds 35,266 shares of CR which is valued at $2,563,838. Crane Co. makes up approx 0.02% of Comerica Bank’s portfolio.Victory Capital Management Inc reduced its stake in CR by selling 20,438 shares or 3.43% in the most recent quarter. The Hedge Fund company now holds 575,600 shares of CR which is valued at $38,501,884. Crane Co. makes up approx 0.12% of Victory Capital Management Inc’s portfolio. Argyle Capital Management added CR to its portfolio by purchasing 3,200 company shares during the most recent quarter which is valued at $193,664. Crane Co. makes up approx 0.09% of Argyle Capital Management’s portfolio.
Crane Co. closed down -0.06 points or -0.08% at $73.74 with 3,36,407 shares getting traded on Monday. Post opening the session at $73.74, the shares hit an intraday low of $73.67 and an intraday high of $74.2199 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Crane Co. reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 24, 2016. Analyst had a consensus of $1.01. The company had revenue of $694.20 million for the quarter, compared to analysts expectations of $666.89 million. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Investors should note that on Oct 24, 2016, Crane Co. announced a cash dividend of $0.3300. The company’s management has announced Nov 28, 2016 as the ex-dividend date and fixed the record date on Nov 30, 2016. The payable date has been fixed on Dec 9, 2016.
Many Wall Street Analysts have commented on Crane Co.. Crane Co. was Initiated by Oppenheimer to “Perform” on Nov 17, 2016. Company shares were Reiterated by Stifel on Oct 26, 2016 to “Hold”, Firm has raised the Price Target to $ 69 from a previous price target of $65 .Company shares were Reiterated by Canaccord Genuity on Oct 26, 2016 to “Hold”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .
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 Companys 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.