Crane (NYSE:CR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Crane (NYSE:CR) from a hold rating to a buy rating in a research note released on Saturday.

A number of other research analysts have also recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Crane from $150.00 to $157.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Bank of America lifted their price target on shares of Crane from $110.00 to $140.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Vertical Research raised shares of Crane from a hold rating to a buy rating in a research report on Wednesday, April 24th. Finally, DA Davidson lifted their target price on Crane from $142.00 to $160.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $137.00.

Crane Trading Down 3.0 %

NYSE:CR opened at $139.98 on Friday. The business’s 50-day moving average is $131.69 and its two-hundred day moving average is $117.16. The firm has a market capitalization of $7.99 billion, a PE ratio of 37.53, a price-to-earnings-growth 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 debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

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

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, May 30th. Crane’s dividend payout ratio is currently 21.98%.

Institutional Trading of Crane

Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in shares of Crane by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Crane during the 4th quarter valued at about $90,000. SkyOak Wealth LLC acquired a new stake in Crane during the first quarter worth about $203,000. Sutton Place Investors LLC bought a new position in Crane in the first quarter worth about $206,000. Finally, InTrack Investment Management Inc acquired a new position in Crane in the first quarter valued at approximately $210,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

About Crane

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.