Crane Co. (CR) Coverage Initiated by Analysts at Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. started coverage on shares of Crane Co. (NYSE:CR) in a research note issued to investors on Thursday. The brokerage set a “market perform” rating on the stock.
Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada upped their price target on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Zacks Investment Research raised shares of Crane from a “sell” rating to a “hold” rating and set a $69.00 price target for the company in a research report on Wednesday, July 27th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $63.00 price target (up previously from $57.00) on shares of Crane in a research report on Wednesday, July 27th. Bank of America Corp. raised shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target for the company in a research report on Friday, July 29th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Crane in a research report on Friday, August 5th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $60.08.
Shares of Crane (NYSE:CR) traded up 0.32% during mid-day trading on Thursday, hitting $74.13. 51,504 shares of the stock were exchanged. The company has a 50-day moving average of $65.30 and a 200 day moving average of $61.20. Crane has a one year low of $41.68 and a one year high of $74.71. The stock has a market cap of $4.35 billion, a PE ratio of 17.36 and a beta of 1.13.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 24th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.06. The business had revenue of $694 million for the quarter, compared to the consensus estimate of $666.89 million. Crane had a net margin of 9.17% and a return on equity of 20.59%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. On average, equities analysts predict that Crane will post $4.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, November 28th. This represents a $1.32 dividend on an annualized basis and a yield of 1.79%. Crane’s dividend payout ratio (DPR) is 30.99%.
In other news, VP Augustus I. Dupont sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $68.29, for a total value of $204,870.00. Following the transaction, the vice president now directly owns 93,753 shares in the company, valued at approximately $6,402,392.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Philip R. Lochner sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $68.26, for a total transaction of $136,520.00. Following the completion of the transaction, the director now owns 2,350 shares in the company, valued at $160,411. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CR. State Street Corp boosted its stake in Crane by 2.5% in the first quarter. State Street Corp now owns 1,229,273 shares of the company’s stock worth $66,209,000 after buying an additional 29,426 shares during the period. Principal Financial Group Inc. boosted its position in Crane by 7.4% in the second quarter. Principal Financial Group Inc. now owns 507,745 shares of the company’s stock valued at $28,799,000 after buying an additional 34,825 shares during the last quarter. Renaissance Technologies LLC boosted its position in Crane by 61.6% in the first quarter. Renaissance Technologies LLC now owns 352,400 shares of the company’s stock valued at $18,980,000 after buying an additional 134,300 shares during the last quarter. LSV Asset Management boosted its position in Crane by 58.5% in the second quarter. LSV Asset Management now owns 406,488 shares of the company’s stock valued at $23,055,000 after buying an additional 150,040 shares during the last quarter. Finally, Robecosam AG boosted its position in Crane by 16.1% in the first quarter. Robecosam AG now owns 153,319 shares of the company’s stock valued at $8,321,000 after buying an additional 21,291 shares during the last quarter. Institutional investors own 68.06% of the company’s stock.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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