Wolfe Research Lowers Crane Company (CR) to Market Perform

Wolfe Research cut shares of Crane Company (NYSE:CR) from an outperform rating to a market perform rating in a report released on Wednesday, October 25th, The Fly reports.

Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Crane from a hold rating to a buy rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded Crane from a hold rating to a buy rating and set a $93.00 target price on the stock in a research note on Monday, July 17th. ValuEngine upgraded Crane from a hold rating to a buy rating in a research note on Friday, September 8th. Scotiabank reaffirmed a buy rating on shares of Crane in a report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $84.00 target price on shares of Crane in a report on Wednesday, October 4th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Crane currently has an average rating of Buy and an average price target of $92.14.

Shares of Crane (CR) opened at $82.67 on Wednesday. The stock has a market cap of $4,906.46, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. Crane has a one year low of $67.62 and a one year high of $86.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. During the same quarter last year, the firm posted $1.07 EPS. Crane’s revenue was up .2% compared to the same quarter last year. equities analysts predict that Crane will post 4.53 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio is 59.19%.

In other news, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $86.28, for a total value of $960,296.40. Following the transaction, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward S. Switter sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now directly owns 23,873 shares in the company, valued at approximately $1,767,318.19. The disclosure for this sale can be found here. In the last three months, insiders sold 33,403 shares of company stock worth $2,693,998. 3.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Crane by 9,355.1% during the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after purchasing an additional 3,955,159 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Crane by 115.7% during the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after purchasing an additional 682,934 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Crane by 69.0% during the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after purchasing an additional 261,354 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Crane by 1,866.9% during the second quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock worth $21,834,000 after purchasing an additional 261,072 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Crane by 50.8% during the third quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after purchasing an additional 223,225 shares in the last quarter. 68.91% of the stock is currently owned by hedge funds and other institutional investors.

About Crane

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.

The Fly

Analyst Recommendations for Crane (NYSE:CR)

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