Several other analysts have also commented on CR. Oppenheimer reissued a buy rating on shares of Crane in a report on Tuesday. Vertical Research raised Crane from a hold rating to a buy rating in a report on Wednesday. Seaport Global Securities raised Crane from a neutral rating to a buy rating and raised their price objective for the company from $78.00 to $95.00 in a report on Thursday, October 26th. Bank of America raised their price objective on Crane from $90.00 to $104.00 and gave the company a buy rating in a report on Wednesday, October 25th. Finally, Wolfe Research lowered Crane from an outperform rating to a market perform rating in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Crane has an average rating of Buy and a consensus price target of $93.83.
Shares of Crane (NYSE CR) traded down $0.77 during mid-day trading on Tuesday, reaching $86.00. The company had a trading volume of 256,153 shares, compared to its average volume of 247,819. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. The stock has a market capitalization of $5,149.79, a PE ratio of 19.86, a P/E/G ratio of 1.90 and a beta of 1.17. Crane has a 52 week low of $67.62 and a 52 week high of $87.38.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. Crane’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. research analysts anticipate that Crane will post 4.53 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Thursday, November 30th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, November 29th. Crane’s dividend payout ratio is presently 59.19%.
In other news, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total value of $162,880.00. Following the sale, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP A D. Pantaleoni sold 4,650 shares of Crane stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $83.11, for a total value of $386,461.50. Following the completion of the sale, the vice president now directly owns 1,076 shares in the company, valued at $89,426.36. The disclosure for this sale can be found here. Insiders sold 22,403 shares of company stock worth $1,896,288 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in shares of Crane by 33.3% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after acquiring an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after acquiring an additional 140 shares during the last quarter. Global X Management Co. LLC lifted its position in Crane by 221.0% during the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after buying an additional 1,282 shares in the last quarter. Howe & Rusling Inc. lifted its position in Crane by 88.5% during the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after buying an additional 1,057 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its position in Crane by 54.2% during the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after buying an additional 800 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
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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