Crane (NYSE:CR) Stock Has Consensus Target Price of $239.00

Shares of Crane (NYSE:CR) have been assigned an average rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $239.00.

Several research firms have recently issued reports on CR. Weiss Ratings raised shares of Crane from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. DA Davidson reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Crane in a report on Tuesday, September 15th. Stifel Nicolaus lifted their price objective on shares of Crane from $215.00 to $242.00 and gave the company a “buy” rating in a research note on Monday, July 20th. BMO Capital Markets started coverage on shares of Crane in a research note on Monday, July 20th. They issued an “outperform” rating and a $253.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft set a $240.00 target price on shares of Crane in a report on Tuesday, September 1st.

Insider Activity at Crane

In other news, Director James Tullis sold 614 shares of Crane stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $225.00, for a total value of $138,150.00. Following the completion of the transaction, the director directly owned 5,421 shares in the company, valued at approximately $1,219,725. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.12% of the stock is owned by insiders.

Institutional Trading of Crane

A number of institutional investors have recently added to or reduced their stakes in the stock. Bradley Foster & Sargent Inc. CT boosted its stake in Crane by 1,652.8% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 223,238 shares of the conglomerate’s stock worth $38,174,000 after purchasing an additional 210,502 shares during the period. Assenagon Asset Management S.A. grew its holdings in Crane by 241.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 145,622 shares of the conglomerate’s stock valued at $29,710,000 after buying an additional 102,948 shares in the last quarter. First Trust Advisors LP grew its holdings in Crane by 98.3% during the 1st quarter. First Trust Advisors LP now owns 202,045 shares of the conglomerate’s stock valued at $34,550,000 after buying an additional 100,157 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Crane by 61.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 248,087 shares of the conglomerate’s stock valued at $42,423,000 after buying an additional 94,780 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Crane by 497.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 90,650 shares of the conglomerate’s stock valued at $15,675,000 after buying an additional 75,482 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Trading Up 3.9%

Shares of CR opened at $190.10 on Tuesday. The business has a 50-day moving average of $203.53 and a 200 day moving average of $198.34. Crane has a fifty-two week low of $159.58 and a fifty-two week high of $230.50. The firm has a market cap of $10.99 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.84 and a current ratio of 2.80.

Crane (NYSE:CR) last announced its quarterly earnings data on Tuesday, July 28th. The conglomerate reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.11. The business had revenue of $724.70 million for the quarter, compared to analysts’ expectations of $708.46 million. Crane had a return on equity of 18.67% and a net margin of 12.97%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS. As a group, research analysts forecast that Crane will post 6.99 EPS for the current year.

About Crane

Crane Company (NYSE: CR) is a diversified industrial technology company that develops and manufactures highly engineered products for aerospace, industrial, commercial and other specialized markets. The company serves customers worldwide through businesses focused on mission-critical components, systems and services.

Its Aerospace & Electronics segment supplies products such as sensing and control systems, aircraft components, power-management equipment and other electronic solutions for commercial and military aerospace applications.