Other analysts also recently issued research reports about the stock. Canaccord Genuity cut their price target on shares of Crane from $100.00 to $99.95 in a report on Wednesday, January 31st. AltaCorp Capital reaffirmed a buy rating on shares of Crane in a report on Monday, January 15th. ValuEngine raised shares of Crane from a hold rating to a buy rating in a report on Sunday, December 31st. Vertical Research raised shares of Crane from a hold rating to a buy rating in a report on Wednesday, December 6th. Finally, Oppenheimer reaffirmed a buy rating on shares of Crane in a report on Tuesday, December 5th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $106.29.
CR stock opened at $95.74 on Wednesday. Crane has a 52-week low of $70.56 and a 52-week high of $102.65. The company has a current ratio of 1.81, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37. The stock has a market cap of $5,682.39, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The company had revenue of $714.20 million during the quarter, compared to the consensus estimate of $702.50 million. During the same quarter in the prior year, the firm posted $1.02 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. sell-side analysts expect that Crane will post 5.52 earnings per share 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 paid a $0.35 dividend. This is an increase from Crane’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.40 annualized dividend and a yield of 1.46%. Crane’s dividend payout ratio is presently 49.30%.
In related news, insider Brendan Curran sold 16,356 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $93.87, for a total value of $1,535,337.72. Following the completion of the transaction, the insider now owns 27,702 shares of the company’s stock, valued at approximately $2,600,386.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director E Thayer Bigelow sold 1,125 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.74, for a total transaction of $106,582.50. The disclosure for this sale can be found here. In the last three months, insiders sold 46,861 shares of company stock valued at $4,476,647. 3.10% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. ClariVest Asset Management LLC increased 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 during the period. Fruth Investment Management acquired a new position in Crane in the 4th quarter valued at approximately $205,000. Levin Capital Strategies L.P. acquired a new position in Crane in the 4th quarter valued at approximately $208,000. Vident Investment Advisory LLC acquired a new position in Crane in the 3rd quarter valued at approximately $209,000. Finally, JOYN Advisors Inc. acquired a new position in Crane in the 4th quarter valued at approximately $213,000. 69.35% of the stock is owned by institutional investors and hedge funds.
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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