Crane Company (CR) Receives $71.67 Consensus Target Price from Brokerages
Shares of Crane Company (NYSE:CR) have been assigned an average rating of “Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $74.57.
Several brokerages have weighed in on CR. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 price target on shares of Crane in a report on Friday, July 14th. William Blair raised Crane from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 25th. Finally, Wolfe Research initiated coverage on Crane in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock.
Crane (NYSE CR) opened at 76.23 on Monday. Crane has a 1-year low of $59.81 and a 1-year high of $84.34. The stock has a market cap of $4.54 billion, a PE ratio of 34.73 and a beta of 1.10. The firm’s 50-day moving average price is $79.98 and its 200 day moving average price is $76.67.
Crane (NYSE:CR) last released its earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.17. The company had revenue of $702.50 million during the quarter, compared to analyst estimates of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. Crane’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. Equities research analysts expect that Crane will post $4.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 31st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.32 annualized dividend and a dividend yield of 1.73%. Crane’s payout ratio is presently 60.83%.
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In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of Crane stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $76.20, for a total transaction of $701,040.00. Following the sale, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Curtis A. Baron, Jr. sold 5,364 shares of Crane stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $79.60, for a total value of $426,974.40. Following the sale, the vice president now directly owns 18,044 shares in the company, valued at $1,436,302.40. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock valued at $299,129,000 after buying an additional 3,955,159 shares during the last quarter. AQR Capital Management LLC raised its position in Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock valued at $114,772,000 after buying an additional 369,589 shares during the last quarter. Systematic Financial Management LP raised its position in Crane by 148.3% in the first quarter. Systematic Financial Management LP now owns 661,439 shares of the conglomerate’s stock valued at $49,495,000 after buying an additional 395,055 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Crane by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock worth $51,002,000 after buying an additional 11,670 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Crane by 69.0% in the second 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 during the last quarter. Hedge funds and other institutional investors own 69.42% of the company’s stock.
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.
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