Crane (NYSE:CR)‘s stock had its “hold” rating restated by Stifel Nicolaus in a note issued to investors on Tuesday. They presently have a $99.00 price objective on the conglomerate’s stock, up from their prior price objective of $87.00. Stifel Nicolaus’ price target points to a potential upside of 6.19% from the stock’s current price.
Several other equities analysts also recently weighed in on CR. Royal Bank of Canada reaffirmed a “hold” rating on shares of Crane in a research report on Monday, September 25th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Monday, October 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a research report on Monday, October 2nd. Scotiabank reaffirmed a “buy” rating on shares of Crane in a research report on Tuesday, October 10th. Finally, Wolfe Research downgraded Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Crane has an average rating of “Buy” and a consensus target price of $95.83.
Crane (CR) traded up $0.93 during midday trading on Tuesday, reaching $93.23. The company’s stock had a trading volume of 175,400 shares, compared to its average volume of 242,664. The firm has a market cap of $5,477.99, a P/E ratio of 41.81, a P/E/G ratio of 1.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. Crane has a 52 week low of $67.62 and a 52 week high of $93.59.
In related news, Director James L. L. Tullis sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the transaction, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Thayer Bigelow sold 1,067 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $82.79, for a total value of $88,336.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,403 shares of company stock valued at $1,896,288. Corporate insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Crane by 2.4% in the second quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock valued at $326,871,000 after purchasing an additional 95,817 shares in the last quarter. BlackRock Inc. lifted its stake in Crane by 2.0% in the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after buying an additional 80,055 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Crane by 13.1% in the third quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock valued at $115,195,000 after buying an additional 167,051 shares during the last quarter. State Street Corp lifted its stake in Crane by 2.1% in the second quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after buying an additional 26,771 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in Crane by 0.4% in the third quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock valued at $90,797,000 after buying an additional 4,000 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.
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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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