Crane Co. (NYSE:CR) has been assigned a consensus rating of “Buy” from the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $106.29.
A number of research firms have commented on CR. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a report on Tuesday, January 30th. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 target price on shares of Crane in a report on Monday, March 12th. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, AltaCorp Capital reaffirmed a “buy” rating on shares of Crane in a report on Monday, January 15th.
Shares of Crane (NYSE CR) opened at $94.73 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.81 and a debt-to-equity ratio of 0.37. The firm has a market cap of $5,637.66, a P/E ratio of 20.86, a P/E/G ratio of 1.31 and a beta of 1.23. Crane has a fifty-two week low of $70.56 and a fifty-two week high of $102.65.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The business had revenue of $714.20 million during the quarter, compared to analyst estimates of $702.50 million. During the same quarter last year, the business posted $1.02 earnings per share. Crane’s revenue for the quarter was up 4.8% compared to the same quarter last year. research analysts expect that Crane will post 5.52 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Crane’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, February 27th. Crane’s dividend payout ratio (DPR) is currently 49.30%.
In other news, insider Brendan Curran sold 16,356 shares of Crane stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $93.87, for a total transaction of $1,535,337.72. Following the transaction, the insider now directly owns 27,702 shares of the company’s stock, valued at $2,600,386.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Augustus I. Dupont sold 16,396 shares of Crane stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the transaction, the vice president now directly owns 102,994 shares in the company, valued at $10,066,633.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,861 shares of company stock worth $4,476,647. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CR. Amalgamated Bank lifted its position in Crane by 6.1% in the 4th quarter. Amalgamated Bank now owns 10,105 shares of the conglomerate’s stock valued at $902,000 after acquiring an additional 578 shares in the last quarter. ClariVest Asset Management LLC lifted its position in Crane by 54.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 800 shares in the last quarter. M&T Bank Corp lifted its position in Crane by 22.0% in the 4th quarter. M&T Bank Corp now owns 4,695 shares of the conglomerate’s stock valued at $418,000 after acquiring an additional 846 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Crane by 51.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock valued at $240,000 after acquiring an additional 917 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in Crane by 18.3% in the 4th quarter. Synovus Financial Corp now owns 6,046 shares of the conglomerate’s stock valued at $539,000 after acquiring an additional 937 shares in the last quarter. 69.36% of the stock is currently owned by institutional investors.
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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