Crane (NYSE:CR) Given New $226.00 Price Target at Deutsche Bank Aktiengesellschaft

Crane (NYSE:CR) had its target price raised by Deutsche Bank Aktiengesellschaft from $187.00 to $226.00 in a report published on Tuesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the conglomerate’s stock.

A number of other equities analysts have also recently commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $200.00 price target on shares of Crane in a research note on Tuesday, March 11th. Stifel Nicolaus increased their price target on Crane from $144.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, April 30th. Wall Street Zen cut Crane from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, UBS Group set a $215.00 price objective on Crane and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $197.75.

Crane Trading Up 0.0%

Shares of CR stock opened at $186.70 on Tuesday. The company has a market cap of $10.74 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. Crane has a 1 year low of $127.04 and a 1 year high of $191.00. The stock’s 50 day simple moving average is $162.61 and its two-hundred day simple moving average is $161.67. 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 released its quarterly earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.10. The company had revenue of $557.60 million for the quarter, compared to analyst estimates of $546.93 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Research analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 0.49%. Crane’s dividend payout ratio is currently 15.94%.

Insider Buying and Selling at Crane

In other Crane news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total value of $230,230.00. Following the transaction, the senior vice president now owns 9,796 shares in the company, valued at $1,734,871.60. The trade was a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.12% of the company’s stock.

Institutional Trading of Crane

Several hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Crane in the 4th quarter worth approximately $144,961,000. Bain Capital Public Equity Management II LLC grew its holdings in Crane by 117.3% in the first quarter. Bain Capital Public Equity Management II LLC now owns 937,237 shares of the conglomerate’s stock worth $143,566,000 after purchasing an additional 505,983 shares during the last quarter. Nuveen LLC acquired a new position in shares of Crane during the first quarter worth $75,254,000. Alliancebernstein L.P. lifted its holdings in shares of Crane by 619.4% during the 4th quarter. Alliancebernstein L.P. now owns 499,656 shares of the conglomerate’s stock valued at $75,823,000 after purchasing an additional 430,201 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of Crane by 16.9% in the 4th quarter. Capital World Investors now owns 2,455,854 shares of the conglomerate’s stock worth $372,676,000 after purchasing an additional 355,765 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

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.