Analysts Set Crane Co. (CR) PT at $58.64
Shares of Crane Co. (NYSE:CR) have earned an average rating of “Hold” from the seventeen analysts that are covering the firm. Twelve investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $58.64.
CR has been the subject of several research analyst reports. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Friday, October 28th. Credit Suisse Group AG set a $8.00 price objective on Crane and gave the company a “hold” rating in a report on Sunday, November 6th. Canaccord Genuity increased their price objective on Crane from $65.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, October 26th. Stifel Nicolaus increased their price objective on Crane from $65.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, October 26th. Finally, Avondale Partners reissued a “market perform” rating on shares of Crane in a report on Wednesday, October 12th.
In other news, VP Augustus I. Dupont sold 3,000 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $68.29, for a total value of $204,870.00. Following the completion of the transaction, the vice president now owns 93,753 shares in the company, valued at $6,402,392.37. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director E Thayer Bigelow sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $64.96, for a total value of $259,840.00. Following the completion of the transaction, the director now owns 21,791 shares of the company’s stock, valued at approximately $1,415,543.36. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CR. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Crane by 11.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,638 shares of the company’s stock worth $103,000 after buying an additional 170 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Crane by 234.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,498 shares of the company’s stock worth $158,000 after buying an additional 1,750 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of Crane during the third quarter worth $192,000. LS Investment Advisors LLC boosted its position in shares of Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock worth $173,000 after buying an additional 1,305 shares in the last quarter. Finally, Argyle Capital Management Inc. purchased a new position in shares of Crane during the third quarter worth $202,000. Institutional investors and hedge funds own 68.06% of the company’s stock.
Shares of Crane (NYSE:CR) opened at 73.74 on Thursday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 17.27 and a beta of 1.13. Crane has a one year low of $41.68 and a one year high of $74.22. The company has a 50-day moving average of $64.28 and a 200 day moving average of $60.79.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 24th. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.06. The company had revenue of $694 million for the quarter, compared to analyst estimates of $666.89 million. Crane had a net margin of 9.17% and a return on equity of 20.59%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.13) earnings per share. On average, equities analysts forecast that Crane will post $4.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 30th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, November 28th. Crane’s dividend payout ratio is currently 30.99%.
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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