Brokerages Set Crane (NYSE:CR) Target Price at $137.00

Shares of Crane (NYSE:CR) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $137.00.

CR has been the subject of a number of research analyst reports. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. DA Davidson upped their price target on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. StockNews.com raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, April 27th. Stifel Nicolaus upped their price target on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Bank of America upped their price target on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, March 5th.

Institutional Investors Weigh In On Crane

Several hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of Crane by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after buying an additional 99 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Crane by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock valued at $936,000 after acquiring an additional 99 shares during the last quarter. Janney Capital Management LLC boosted its stake in shares of Crane by 3.2% during the fourth quarter. Janney Capital Management LLC now owns 3,560 shares of the conglomerate’s stock valued at $421,000 after acquiring an additional 110 shares during the last quarter. Covestor Ltd boosted its stake in shares of Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 131 shares during the last quarter. Finally, Financial Enhancement Group LLC boosted its stake in shares of Crane by 1.1% during the first quarter. Financial Enhancement Group LLC now owns 11,920 shares of the conglomerate’s stock valued at $1,607,000 after acquiring an additional 135 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Stock Down 0.2 %

CR stock opened at $143.91 on Wednesday. The company’s 50 day moving average price is $135.43 and its 200 day moving average price is $120.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a fifty-two week low of $71.33 and a fifty-two week high of $146.68. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 1.93 and a beta of 1.49.

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

Crane Announces Dividend

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

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.