Crane Co. (NYSE:CR) Receives Average Rating of “Buy” from Brokerages

Shares of Crane Co. (NYSE:CR) have been assigned an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $113.20.

Several research firms have recently issued reports on CR. DA Davidson lifted their price objective on shares of Crane from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 26th. They noted that the move was a valuation call. Morgan Stanley initiated coverage on shares of Crane in a research report on Friday, December 3rd. They set an “equal weight” rating and a $111.00 price objective for the company. BMO Capital Markets raised shares of Crane to an “outperform” rating in a research report on Monday, September 27th. Finally, Zacks Investment Research cut shares of Crane from a “hold” rating to a “sell” rating and set a $107.00 price target for the company. in a research report on Monday, January 3rd.

In other Crane news, Director James L. L Tullis sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $104.71, for a total transaction of $209,420.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. lifted its stake in shares of Crane by 18.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,250 shares of the conglomerate’s stock valued at $127,000 after buying an additional 191 shares during the period. Fruth Investment Management purchased a new position in shares of Crane during the fourth quarter valued at approximately $203,000. Louisiana State Employees Retirement System increased its position in Crane by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the conglomerate’s stock worth $1,302,000 after purchasing an additional 100 shares during the last quarter. Diversified Trust Co increased its position in Crane by 22.3% during the fourth quarter. Diversified Trust Co now owns 2,813 shares of the conglomerate’s stock worth $286,000 after purchasing an additional 513 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Crane by 0.6% during the fourth quarter. State of Alaska Department of Revenue now owns 58,061 shares of the conglomerate’s stock worth $5,906,000 after purchasing an additional 344 shares during the last quarter. 70.47% of the stock is currently owned by institutional investors.

Shares of CR stock opened at $106.82 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 0.47. Crane has a 52 week low of $72.47 and a 52 week high of $108.67. The stock has a market capitalization of $6.27 billion, a PE ratio of 15.41, a P/E/G ratio of 0.72 and a beta of 1.71. The firm has a 50 day moving average of $102.41 and a two-hundred day moving average of $98.35.

Crane (NYSE:CR) last issued its quarterly earnings results on Sunday, October 24th. The conglomerate reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.53. The company had revenue of $833.50 million during the quarter, compared to analysts’ expectations of $770.61 million. Crane had a net margin of 12.86% and a return on equity of 22.61%. The firm’s revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. Analysts expect that Crane will post 6.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 8th. Stockholders of record on Tuesday, November 30th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.61%. Crane’s dividend payout ratio (DPR) is 24.82%.

About Crane

Crane Co engages in the manufacturing of engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.

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