Crane (CR) Raised to Buy at Vertical Research
CR has been the subject of a number of other reports. Zacks Investment Research cut Crane from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Boenning Scattergood reissued a hold rating on shares of Crane in a research report on Monday, October 2nd. Wolfe Research cut Crane from an outperform rating to a market perform rating in a research report on Wednesday, October 25th. Royal Bank Of Canada reissued a hold rating on shares of Crane in a research report on Monday, September 25th. Finally, ValuEngine raised Crane from a hold rating to a buy rating in a research report on Friday, September 8th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $93.83.
Shares of Crane (NYSE CR) traded down $0.77 during midday trading on Wednesday, hitting $86.00. The company had a trading volume of 256,153 shares, compared to its average volume of 247,819. The firm has a market cap of $5,149.79, a PE ratio of 19.86, a PEG ratio of 1.90 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 has a 1 year low of $67.62 and a 1 year high of $87.38.
Crane (NYSE:CR) last announced its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The firm 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%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. research analysts forecast that Crane will post 4.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Wednesday, November 29th. Crane’s dividend payout ratio is presently 59.19%.
In other Crane news, VP Augustus I. Dupont sold 11,130 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now directly owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James L. L Tullis sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the sale, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of CR. Principal Financial Group Inc. raised its stake in shares of Crane by 115.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after buying an additional 682,934 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Crane by 69.0% during the 2nd quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after buying an additional 261,354 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Crane by 1,866.9% during the 2nd quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock worth $21,834,000 after buying an additional 261,072 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Crane by 50.8% during the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after buying an additional 223,225 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Crane by 338.8% during the 2nd quarter. FMR LLC now owns 202,628 shares of the conglomerate’s stock worth $16,085,000 after buying an additional 156,454 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.
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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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