DA Davidson initiated coverage on shares of Crane (NYSE:CR) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $108.00 price objective on the conglomerate’s stock.
Other analysts also recently issued research reports about the stock. AltaCorp Capital reaffirmed a buy rating on shares of Crane in a report on Monday, January 15th. Zacks Investment Research raised shares of Crane from a hold rating to a buy rating and set a $111.00 target price on the stock in a report on Friday, February 2nd. Boenning Scattergood reissued a hold rating on shares of Crane in a report on Tuesday, January 30th. Canaccord Genuity boosted their price objective on shares of Crane from $95.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, January 30th. Finally, Vertical Research raised shares of Crane from a hold rating to a buy rating in a report on Wednesday, December 6th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Crane presently has an average rating of Buy and an average target price of $106.50.
Shares of CR stock opened at $91.28 on Wednesday. The firm has a market cap of $5,710.42, a PE ratio of 32.67, a PEG ratio of 1.33 and a beta of 1.23. The company has a quick ratio of 1.40, a current ratio of 1.81 and a debt-to-equity ratio of 0.37. 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 earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.01. The business had revenue of $714.20 million for the quarter, compared to the consensus estimate of $702.50 million. Crane had a net margin of 6.17% and a return on equity of 20.66%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 earnings per share. sell-side analysts expect that Crane will post 5.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Wednesday, February 28th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.40 dividend on an annualized basis and a yield of 1.53%. This is an increase from Crane’s previous quarterly dividend of $0.33. Crane’s payout ratio is currently 49.30%.
In other Crane news, VP James A. Lavish sold 12,984 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $94.90, for a total value of $1,232,181.60. Following the sale, the vice president now owns 16,997 shares of the company’s stock, valued at $1,613,015.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Augustus I. Dupont sold 16,396 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the completion of the sale, the vice president now directly owns 102,994 shares in the company, valued at approximately $10,066,633.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,861 shares of company stock worth $4,476,647. 3.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. ClariVest Asset Management LLC lifted its holdings in shares of Crane by 54.2% in the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after purchasing an additional 800 shares in the last quarter. Fruth Investment Management purchased a new stake in shares of Crane in the fourth quarter valued at about $205,000. Levin Capital Strategies L.P. purchased a new stake in shares of Crane in the fourth quarter valued at about $208,000. Vident Investment Advisory LLC purchased a new stake in shares of Crane in the third quarter valued at about $209,000. Finally, JOYN Advisors Inc. purchased a new stake in shares of Crane in the fourth quarter valued at about $213,000. 69.35% of the stock is currently 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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