Crane Company (NYSE:CR) – William Blair raised their FY2017 earnings per share estimates for Crane in a research report issued on Wednesday, Zacks Investment Research reports. William Blair analyst N. Heymann now forecasts that the conglomerate will post earnings of $4.55 per share for the year, up from their previous estimate of $4.53. William Blair also issued estimates for Crane’s Q4 2017 earnings at $1.20 EPS, Q1 2018 earnings at $1.14 EPS, Q2 2018 earnings at $1.32 EPS and Q3 2018 earnings at $1.25 EPS.
Several other brokerages also recently issued reports on CR. BidaskClub downgraded shares of Crane from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Wolfe Research raised shares of Crane from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Finally, Bank of America Corporation lifted their price target on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $92.14.
Crane (NYSE:CR) traded down $0.01 during trading hours on Thursday, hitting $82.67. 173,400 shares of the stock were exchanged, compared to its average volume of 335,278. Crane has a one year low of $67.62 and a one year high of $86.67. The company has a market cap of $4,906.46, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS.
Several large investors have recently modified their holdings of CR. BlackRock Inc. grew its position in shares of Crane by 9,355.1% during the 1st quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after buying an additional 3,955,159 shares during the period. Principal Financial Group Inc. grew its position in shares of Crane by 115.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after buying an additional 682,934 shares during the period. Prudential Financial Inc. grew its position in shares of Crane by 69.0% during the 2nd quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after buying an additional 261,354 shares during the period. SG Americas Securities LLC grew its position in shares of Crane by 1,866.9% during the 2nd quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock worth $21,834,000 after buying an additional 261,072 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Crane by 50.8% during the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after buying an additional 223,225 shares during the period. Institutional investors own 69.02% of the company’s stock.
In other news, VP Augustus I. Dupont sold 11,130 shares of Crane stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares in the company, valued at approximately $7,257,528.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $73.73, for a total transaction of $442,380.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,403 shares of company stock valued at $2,693,998. Insiders own 3.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio is presently 59.19%.
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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