Crane Company (CR) Upgraded to “Buy” at ValuEngine
ValuEngine upgraded shares of Crane Company (NYSE:CR) from a hold rating to a buy rating in a report issued on Friday.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Crane from a hold rating to a buy rating and set a $93.00 target price for the company in a research note on Monday, July 17th. Canaccord Genuity raised shares of Crane from a hold rating to a buy rating and lifted their target price for the stock from $78.00 to $92.00 in a research note on Tuesday, May 16th. Wolfe Research started coverage on shares of Crane in a research note on Tuesday, July 11th. They set a market perform rating for the company. Finally, Stifel Nicolaus restated a hold rating and issued a $84.00 price target on shares of Crane in a report on Thursday, July 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of Buy and an average target price of $76.88.
Shares of Crane (CR) traded up 1.62% during trading on Friday, hitting $73.36. 365,302 shares of the stock traded hands. The firm has a 50-day moving average of $75.07 and a 200-day moving average of $76.72. Crane has a 1-year low of $59.81 and a 1-year high of $84.34. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 33.42 and a beta of 1.11.
Crane (NYSE:CR) last announced its earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.17. Crane had a net margin of 4.79% and a return on equity of 20.57%. The business had revenue of $702.50 million during the quarter, compared to the consensus estimate of $702.53 million. During the same quarter last year, the firm earned $1.21 earnings per share. Crane’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Crane will post $4.47 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 31st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, August 29th. Crane’s payout ratio is 60.83%.
In other news, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $73.73, for a total transaction of $442,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kristian Robert Salovaara sold 9,200 shares of Crane stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the transaction, the vice president now owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The disclosure for this sale can be found here. Insiders have sold 22,200 shares of company stock valued at $1,661,630 over the last quarter. Corporate insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CR. Bank of Montreal Can grew its holdings in shares of Crane by 2.8% during the first quarter. Bank of Montreal Can now owns 5,024 shares of the conglomerate’s stock valued at $376,000 after buying an additional 135 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Crane by 0.6% during the first quarter. Profund Advisors LLC now owns 6,861 shares of the conglomerate’s stock valued at $513,000 after buying an additional 43 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Crane by 1.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the conglomerate’s stock valued at $1,291,000 after buying an additional 200 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Crane by 2.8% during the first quarter. Wells Fargo & Company MN now owns 111,525 shares of the conglomerate’s stock valued at $8,345,000 after buying an additional 2,988 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Crane by 287.6% during the first quarter. Canada Pension Plan Investment Board now owns 90,300 shares of the conglomerate’s stock valued at $6,757,000 after buying an additional 67,000 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.
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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