DA Davidson Boosts Crane (NYSE:CR) Price Target to $160.00

Crane (NYSE:CR) had its target price increased by DA Davidson from $142.00 to $160.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock. DA Davidson also issued estimates for Crane’s Q2 2024 earnings at $1.23 EPS, FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

Other equities research analysts have also issued reports about the stock. Vertical Research raised shares of Crane from a hold rating to a buy rating in a report on Wednesday. StockNews.com lowered shares of Crane from a buy rating to a hold rating in a report on Friday, April 19th. Stifel Nicolaus increased their price objective on shares of Crane from $150.00 to $157.00 and gave the company a buy rating in a report on Wednesday. Finally, Bank of America increased their price objective on shares of Crane from $110.00 to $140.00 and gave the company a buy rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Crane has a consensus rating of Moderate Buy and a consensus price target of $137.00.

Crane Trading Up 0.2 %

Crane stock opened at $144.24 on Wednesday. The firm has a 50 day moving average of $130.79 and a 200 day moving average of $116.03. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 1.93 and a beta of 1.49. Crane has a 12-month low of $67.28 and a 12-month high of $146.29. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last released its earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $565.30 million during the quarter, compared to analyst estimates of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. As a group, research analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be given a dividend of $0.205 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.57%. Crane’s dividend payout ratio is currently 21.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ronald Blue Trust Inc. boosted its position in shares of Crane by 99.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Crane by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 99 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Crane during the 4th quarter valued at approximately $90,000. Sutton Place Investors LLC bought a new position in shares of Crane during the 1st quarter valued at approximately $206,000. Finally, InTrack Investment Management Inc bought a new stake in Crane in the first quarter worth $210,000. 75.14% of the stock is currently owned by institutional investors.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.