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.

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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.

Dividend History for Crane (NYSE:CR)

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