Crane Co. (NYSE:CR) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 533,000 shares, a drop of 10.0% from the May 30th total of 592,200 shares. Based on an average trading volume of 278,100 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.1% of the shares of the company are short sold.
Several brokerages have recently commented on CR. Buckingham Research decreased their target price on Crane from $102.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. UBS Group reiterated a “buy” rating and issued a $70.00 target price on shares of Lumentum in a research report on Thursday, April 11th. Finally, Zacks Investment Research lowered Inflarx from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $93.02.
NYSE:CR traded up $1.61 during midday trading on Friday, reaching $83.10. 235,299 shares of the company traded hands, compared to its average volume of 313,310. Crane has a twelve month low of $67.18 and a twelve month high of $100.14. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $81.00.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, April 29th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. Crane had a return on equity of 24.49% and a net margin of 10.34%. The business had revenue of $831.70 million during the quarter, compared to analyst estimates of $792.39 million. During the same quarter in the previous year, the firm posted $1.31 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Crane will post 6.4 earnings per share for the current year.
In other news, Director James L. L Tullis bought 1,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $78.13 per share, for a total transaction of $78,130.00. Following the transaction, the director now owns 1,110 shares in the company, valued at $86,724.30. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.39% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its position in shares of Crane by 5.7% during the 4th quarter. LPL Financial LLC now owns 3,662 shares of the conglomerate’s stock valued at $264,000 after acquiring an additional 197 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Crane by 1.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,680 shares of the conglomerate’s stock valued at $915,000 after acquiring an additional 217 shares during the period. Bank of New York Mellon Corp grew its position in shares of Crane by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 636,202 shares of the conglomerate’s stock valued at $45,921,000 after acquiring an additional 16,790 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Crane by 6.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,633 shares of the conglomerate’s stock valued at $478,000 after acquiring an additional 385 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in shares of Crane by 4.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 30,292 shares of the conglomerate’s stock valued at $2,027,000 after acquiring an additional 1,317 shares during the period. Institutional investors and hedge funds own 69.48% of the company’s stock.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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