Crane Company (NYSE:CR) – Research analysts at Oppenheimer lowered their FY2018 earnings estimates for shares of Crane in a report released on Wednesday. Oppenheimer analyst J. Giannakouros now forecasts that the conglomerate will post earnings per share of $4.95 for the year, down from their prior estimate of $5.05. Oppenheimer currently has a “Buy” rating on the stock. Oppenheimer also issued estimates for Crane’s FY2019 earnings at $5.45 EPS.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. The company had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. Crane’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share.

A number of other research firms also recently weighed in on CR. Bank of America increased their price target on shares of Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Wolfe Research downgraded shares of Crane from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Stifel Nicolaus increased their price target on shares of Crane from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Seaport Global Securities raised shares of Crane from a “neutral” rating to a “buy” rating and raised their target price for the company from $78.00 to $95.00 in a research note on Thursday, October 26th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Crane in a research note on Friday, November 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Crane has a consensus rating of “Buy” and a consensus target price of $93.83.

Crane (CR) traded up $0.10 during trading hours on Monday, reaching $85.12. 201,268 shares of the company’s stock were exchanged, compared to its average volume of 316,388. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. The stock has a market capitalization of $5,080.00, a P/E ratio of 19.36, a P/E/G ratio of 1.85 and a beta of 1.17. Crane has a 12 month low of $67.62 and a 12 month high of $87.38.

Institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its stake in Crane by 33.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after buying an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Crane by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after buying an additional 140 shares during the period. Global X Management Co. LLC increased its stake in Crane by 221.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after buying an additional 1,282 shares during the period. Howe & Rusling Inc. increased its stake in Crane by 88.5% during the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after buying an additional 1,057 shares during the period. Finally, ClariVest Asset Management LLC increased its stake in Crane by 54.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after buying an additional 800 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Augustus I. Dupont sold 3,556 shares of Crane stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $83.89, for a total transaction of $298,312.84. Following the sale, the vice president now owns 80,560 shares of the company’s stock, valued at approximately $6,758,178.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the sale, the director now directly owns 2,110 shares in the company, valued at approximately $171,838.40. The disclosure for this sale can be found here. In the last three months, insiders sold 22,403 shares of company stock worth $1,896,288. Insiders own 3.10% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Thursday, November 30th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Wednesday, November 29th. Crane’s dividend payout ratio is presently 58.93%.

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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.

Earnings History and Estimates for Crane (NYSE:CR)

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