Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Crane from a c+ rating to a b+ rating in a report on Monday, April 24th. Zacks Investment Research upgraded shares of Crane from a hold rating to a buy rating and set a $89.00 price objective on the stock in a report on Thursday, May 18th. Canaccord Genuity upgraded shares of Crane from a hold rating to a buy rating and upped their price objective for the stock from $78.00 to $92.00 in a report on Tuesday, May 16th. ValuEngine upgraded shares of Crane from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Crane from $80.00 to $84.00 and gave the stock a hold rating in a report on Wednesday, April 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $76.88.
BidaskClub upgraded shares of Crane Company (NYSE:CR) from a hold rating to a buy rating in a research note published on Saturday, July 8th.
Crane (NYSE:CR) traded up 0.32% during mid-day trading on Friday, reaching $76.19. The company’s stock had a trading volume of 732,109 shares. The firm has a market cap of $4.53 billion, a PE ratio of 34.71 and a beta of 1.10. Crane has a 12-month low of $59.81 and a 12-month high of $84.34. The company has a 50-day moving average price of $79.98 and a 200-day moving average price of $76.67.
Crane (NYSE:CR) last posted its earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, meeting the consensus estimate of $1.17. The company had revenue of $702.50 million for the quarter, compared to analyst estimates of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. Crane’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. On average, equities research analysts expect that Crane will post $4.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 31st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is 60.83%.
In related news, VP Curtis A. Baron, Jr. sold 5,364 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $79.60, for a total value of $426,974.40. Following the transaction, the vice president now directly owns 18,044 shares of the company’s stock, valued at approximately $1,436,302.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock valued at $299,129,000 after buying an additional 3,955,159 shares during the period. AQR Capital Management LLC boosted its stake in Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock valued at $114,772,000 after buying an additional 369,589 shares during the period. Systematic Financial Management LP boosted its stake in Crane by 148.3% in the first quarter. Systematic Financial Management LP now owns 661,439 shares of the conglomerate’s stock valued at $49,495,000 after buying an additional 395,055 shares during the period. Norges Bank purchased a new stake in Crane during the fourth quarter valued at approximately $44,392,000. Finally, Principal Financial Group Inc. boosted its stake in Crane by 8.9% in the first quarter. Principal Financial Group Inc. now owns 590,135 shares of the conglomerate’s stock valued at $44,160,000 after buying an additional 48,462 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.