Crane (NYSE:CR) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Crane (NYSE:CR) from a buy rating to a hold rating in a research report report published on Friday.

CR has been the subject of a number of other research reports. Bank of America upped their price objective on shares of Crane from $110.00 to $140.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Stifel Nicolaus upped their price objective on shares of Crane from $135.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Crane has an average rating of Moderate Buy and an average price target of $125.00.

Crane Price Performance

Shares of NYSE:CR opened at $130.76 on Friday. The company’s fifty day moving average price is $129.69 and its 200-day moving average price is $115.30. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.93 and a beta of 1.49. Crane has a one year low of $67.28 and a one year high of $139.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $532.90 million for the quarter, compared to analyst estimates of $519.55 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. On average, equities research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.82 annualized dividend and a yield of 0.63%. This is a boost from Crane’s previous quarterly dividend of $0.18. Crane’s dividend payout ratio is presently 22.22%.

Institutional Investors Weigh In On Crane

Several institutional investors have recently added to or reduced their stakes in CR. Ronald Blue Trust Inc. lifted its position in shares of Crane by 99.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 143 shares during the period. Fifth Third Bancorp lifted its position in shares of Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Crane in the 4th quarter worth about $90,000. Jump Financial LLC purchased a new stake in shares of Crane in the 3rd quarter worth about $201,000. Finally, Claret Asset Management Corp purchased a new stake in shares of Crane in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

About Crane

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.