Crane (CR) Upgraded to “Buy” by Vertical Research
Several other equities research analysts also recently weighed in on CR. Wolfe Research raised shares of Crane from a market perform rating to an outperform rating in a research report on Monday, August 14th. Boenning Scattergood reaffirmed a hold rating on shares of Crane in a research report on Monday, October 2nd. BidaskClub downgraded shares of Crane from a buy rating to a hold rating in a research report on Saturday, August 19th. Zacks Investment Research raised shares of Crane from a hold rating to a buy rating and set a $90.00 price objective for the company in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $84.00 price objective on shares of Crane in a research report on Wednesday, October 4th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $93.83.
Crane (CR) traded up $3.78 during trading hours on Wednesday, hitting $86.32. 594,400 shares of the company traded hands, compared to its average volume of 316,615. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. The firm has a market cap of $4,898.74, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. Crane has a 1-year low of $67.62 and a 1-year high of $87.32.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. equities research analysts forecast that Crane will post 4.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio is presently 59.19%.
In other Crane news, Director James L. L. Tullis sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the sale, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director E Thayer Bigelow sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $82.79, for a total transaction of $88,336.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,403 shares of company stock valued at $1,896,288. Company insiders own 3.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Crane by 115.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock valued at $101,056,000 after purchasing an additional 682,934 shares during the period. Prudential Financial Inc. boosted its holdings in Crane by 69.0% in the 2nd quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock valued at $50,807,000 after purchasing an additional 261,354 shares during the period. SG Americas Securities LLC boosted its holdings in Crane by 1,866.9% in the 2nd quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock valued at $21,834,000 after purchasing an additional 261,072 shares during the period. Victory Capital Management Inc. boosted its holdings in Crane by 50.8% in the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock valued at $53,033,000 after purchasing an additional 223,225 shares during the period. Finally, FMR LLC boosted its holdings in Crane by 338.8% in the 2nd quarter. FMR LLC now owns 202,628 shares of the conglomerate’s stock valued at $16,085,000 after purchasing an additional 156,454 shares during the period. 68.36% of the stock is owned by institutional investors.
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Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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