Wolfe Research upgraded shares of Crane Company (NYSE:CR) from a market perform rating to an outperform rating in a report issued on Monday.
Other research analysts have also recently issued research reports about the company. TheStreet upgraded Crane from a c+ rating to a b+ rating in a research report on Monday, April 24th. Zacks Investment Research upgraded Crane from a hold rating to a buy rating and set a $89.00 price objective for the company in a research report on Thursday, May 18th. Canaccord Genuity upgraded Crane from a hold rating to a buy rating and increased their price objective for the stock from $78.00 to $92.00 in a research report on Tuesday, May 16th. ValuEngine upgraded Crane from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Crane from a hold rating to a buy rating in a research report on Saturday, July 8th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $76.88.
Crane (NYSE:CR) traded down 0.67% during midday trading on Monday, reaching $75.06. 101,643 shares of the company were exchanged. The company has a 50 day moving average of $79.04 and a 200-day moving average of $76.79. Crane has a 52-week low of $59.81 and a 52-week high of $84.34. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 34.20 and a beta of 1.10.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.17. The firm had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. Crane’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. On average, equities research analysts anticipate that Crane will post $4.47 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 31st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is 60.83%.
In related news, VP Kristian Robert Salovaara sold 9,200 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $76.20, for a total transaction of $701,040.00. Following the sale, the vice president now owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. ClariVest Asset Management LLC raised its stake in Crane by 15.7% in the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after buying an additional 200 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Crane by 33.3% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after buying an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after buying an additional 140 shares during the last quarter. Global X Management Co. LLC raised its stake in Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after buying an additional 1,282 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Crane during the second quarter worth approximately $204,000. 70.61% of the stock is currently owned by institutional investors and hedge funds.
Crane Company Profile
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.
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