Crane (NYSE:CR) PT Raised to $157.00

Crane (NYSE:CR) had its target price boosted by Stifel Nicolaus from $150.00 to $157.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

A number of other brokerages have also weighed in on CR. Vertical Research upgraded Crane from a hold rating to a buy rating in a research note on Wednesday. StockNews.com cut Crane from a buy rating to a hold rating in a research report on Friday, April 19th. Finally, Bank of America boosted their target price on shares of Crane from $110.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $137.00.

Crane Price Performance

Shares of CR opened at $144.35 on Wednesday. The company’s 50-day moving average is $131.24 and its 200-day moving average is $116.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a market capitalization of $8.24 billion, a PE ratio of 38.70, a PEG ratio of 1.93 and a beta of 1.49. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $146.29.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Equities analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.205 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.57%. Crane’s dividend payout ratio (DPR) is presently 21.98%.

Institutional Trading of Crane

A number of institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its position in shares of Crane by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the conglomerate’s stock worth $1,905,000 after purchasing an additional 400 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Crane by 3.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,194 shares of the conglomerate’s stock valued at $1,242,000 after buying an additional 277 shares during the period. Sutton Place Investors LLC bought a new position in Crane in the 1st quarter valued at about $206,000. Raymond James & Associates raised its position in shares of Crane by 7.9% in the 1st quarter. Raymond James & Associates now owns 68,481 shares of the conglomerate’s stock valued at $9,254,000 after buying an additional 5,014 shares in the last quarter. Finally, Norden Group LLC lifted its holdings in shares of Crane by 1,363.7% during the 1st quarter. Norden Group LLC now owns 89,432 shares of the conglomerate’s stock worth $12,086,000 after acquiring an additional 83,322 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Crane Company Profile

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.