Crane Company (CR) to Issue Quarterly Dividend of $0.33 on December 8th
Crane Company (NYSE:CR) declared a quarterly dividend on Monday, October 23rd, RTT News reports. Stockholders of record on Thursday, November 30th will be paid a dividend of 0.33 per share by the conglomerate on Friday, December 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Wednesday, November 29th.
Crane has raised its dividend by an average of 4.4% annually over the last three years. Crane has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Crane to earn $5.00 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.4%.
Crane (NYSE CR) opened at $82.84 on Friday. Crane has a 12 month low of $67.62 and a 12 month high of $86.67. The company has a market capitalization of $4,916.54, a price-to-earnings ratio of 18.96, a PEG ratio of 1.81 and a beta of 1.17. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. Crane’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. sell-side analysts predict that Crane will post 4.53 earnings per share for the current fiscal year.
A number of research firms recently weighed in on CR. Wolfe Research downgraded Crane from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 25th. Seaport Global Securities upgraded Crane from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $95.00 in a report on Thursday, October 26th. Boenning Scattergood restated a “hold” rating on shares of Crane in a report on Tuesday, October 24th. Stifel Nicolaus restated a “hold” rating and issued a $84.00 price objective on shares of Crane in a report on Wednesday, October 4th. Finally, Canaccord Genuity restated a “buy” rating on shares of Crane in a report on Friday, November 3rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Crane presently has an average rating of “Buy” and a consensus target price of $92.14.
In other Crane news, VP Edward S. Switter sold 7,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $74.03, for a total transaction of $518,210.00. Following the completion of the sale, the vice president now directly owns 23,873 shares in the company, valued at approximately $1,767,318.19. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Augustus I. Dupont sold 11,130 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $86.28, for a total value of $960,296.40. Following the sale, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The disclosure for this sale can be found here. Insiders sold 35,403 shares of company stock valued at $2,856,878 over the last 90 days. 3.10% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “Crane Company (CR) to Issue Quarterly Dividend of $0.33 on December 8th” was reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.watchlistnews.com/crane-company-cr-to-issue-quarterly-dividend-of-0-33-on-december-8th/1723533.html.
Crane Company Profile
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.
Receive News & Ratings for Crane Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane Company and related companies with Analyst Ratings Network's FREE daily email newsletter.