Crane Co. (CR) To Go Ex-Dividend on November 28th
Crane Co. (NYSE:CR) declared a quarterly dividend on Monday, October 24th. Shareholders of record on Wednesday, November 30th will be given a dividend of 0.33 per share on Friday, December 9th. This represents a $1.32 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Monday, November 28th.
Crane (NYSE:CR) opened at 75.24 on Wednesday. Crane has a 52-week low of $41.68 and a 52-week high of $75.37. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 17.62 and a beta of 1.13. The firm’s 50-day moving average price is $66.60 and its 200 day moving average price is $61.82.
Crane (NYSE:CR) last issued its earnings results on Monday, October 24th. The company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.06. Crane had a return on equity of 20.59% and a net margin of 9.17%. The company earned $694 million during the quarter, compared to the consensus estimate of $666.89 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Crane will post $4.19 EPS for the current year.
In other news, VP Augustus I. Dupont sold 3,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $68.29, for a total transaction of $204,870.00. Following the sale, the vice president now directly owns 93,753 shares in the company, valued at approximately $6,402,392.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip R. Lochner sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $68.26, for a total value of $136,520.00. Following the sale, the director now owns 2,350 shares in the company, valued at $160,411. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its stake in shares of Crane by 5.4% in the second quarter. BlackRock Fund Advisors now owns 1,749,403 shares of the company’s stock worth $99,226,000 after buying an additional 89,444 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Crane by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,460,348 shares of the company’s stock valued at $82,831,000 after buying an additional 47,212 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Crane by 4.5% in the second quarter. Ameritas Investment Partners Inc. now owns 7,836 shares of the company’s stock valued at $444,000 after buying an additional 340 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Crane during the second quarter valued at approximately $510,000. Finally, Reliance Trust Co. of Delaware boosted its stake in Crane by 24.4% in the second quarter. Reliance Trust Co. of Delaware now owns 9,591 shares of the company’s stock valued at $544,000 after buying an additional 1,882 shares in the last quarter. Institutional investors and hedge funds own 67.23% of the company’s stock.
Several equities research analysts have recently weighed in on CR shares. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Canaccord Genuity upped their target price on Crane from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, October 26th. Avondale Partners reaffirmed a “market perform” rating on shares of Crane in a research report on Wednesday, October 12th. Stifel Nicolaus upped their target price on Crane from $65.00 to $69.00 and gave the stock a “hold” rating in a research report on Wednesday, October 26th. Finally, Bank of America Corp. raised Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Friday, July 29th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $60.08.
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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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