Analysts Set Crane Company (CR) Price Target at $92.60
Crane Company (NYSE:CR) has received an average rating of “Buy” from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $92.60.
Several equities analysts have recently issued reports on CR shares. Bank of America Corporation lifted their price target on Crane from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Scotiabank reissued a “buy” rating on shares of Crane in a research note on Tuesday, October 10th. Wolfe Research lowered Crane from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Finally, Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd.
In other news, VP Edward S. Switter sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the sale, the vice president now owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director E Thayer Bigelow sold 6,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,403 shares of company stock valued at $2,693,998. 3.10% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its holdings in shares of Crane by 33.3% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after acquiring an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Crane by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after acquiring an additional 140 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of Crane by 221.0% during the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after acquiring an additional 1,282 shares in the last quarter. Howe & Rusling Inc. raised its holdings in shares of Crane by 88.5% during the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after acquiring an additional 1,057 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its holdings in shares of Crane by 54.2% during the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 68.91% of the company’s stock.
Shares of Crane (CR) traded up $0.15 during mid-day trading on Friday, hitting $82.65. The stock had a trading volume of 212,700 shares, compared to its average volume of 320,934. Crane has a one year low of $67.62 and a one year high of $86.67. The firm has a market cap of $4,896.37, a PE ratio of 18.88, a PEG ratio of 1.81 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The company had revenue of $695.90 million for the quarter, compared to analysts’ expectations of $679.77 million. During the same period last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. sell-side analysts predict that Crane will post 4.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.32 annualized dividend and a dividend yield of 1.60%. Crane’s dividend payout ratio (DPR) is presently 59.19%.
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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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