Crane Company (NYSE:CR) – Analysts at William Blair increased their FY2017 earnings estimates for shares of Crane in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. William Blair analyst N. Heymann now anticipates that the conglomerate will earn $4.53 per share for the year, up from their previous forecast of $4.50. William Blair also issued estimates for Crane’s Q4 2017 earnings at $1.18 EPS.
A number of other brokerages have also recently commented on CR. Stifel Nicolaus upped their price target on Crane from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Wolfe Research lowered Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $92.00 price objective (up from $88.00) on shares of Crane in a research report on Wednesday, October 25th. Bank of America Corporation boosted their price objective on Crane from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Seaport Global Securities upgraded Crane from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $95.00 in a research report on Thursday, October 26th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Crane presently has an average rating of “Buy” and a consensus target price of $92.14.
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Shares of Crane (NYSE CR) traded down $0.01 during trading hours on Wednesday, reaching $82.67. The company’s stock had a trading volume of 173,400 shares, compared to its average volume of 321,359. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. The company has a market cap of $4,907.05, a PE ratio of 18.92, a P/E/G ratio of 1.81 and a beta of 1.17. Crane has a 12-month low of $67.62 and a 12-month high of $86.67.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS.
Several hedge funds have recently made changes to their positions in CR. BlackRock Inc. boosted its stake in shares of Crane by 9,355.1% during the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock valued at $299,129,000 after purchasing an additional 3,955,159 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Crane by 115.7% during the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock valued at $101,056,000 after purchasing an additional 682,934 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Crane by 69.0% during the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock valued at $50,807,000 after purchasing an additional 261,354 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Crane by 1,866.9% during the second quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock worth $21,834,000 after acquiring an additional 261,072 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Crane by 50.8% during the third quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after acquiring an additional 223,225 shares during the last quarter. 69.02% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Augustus I. Dupont sold 3,556 shares of Crane stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $83.89, for a total transaction of $298,312.84. Following the sale, the vice president now directly owns 80,560 shares of the company’s stock, valued at $6,758,178.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. Insiders sold 33,403 shares of company stock worth $2,693,998 in the last 90 days. 3.10% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s payout ratio is currently 59.19%.
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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