Crane Company (NYSE:CR) – Stock analysts at Oppenheimer Holdings increased their FY2018 EPS estimates for Crane in a research report issued on Wednesday, according to Zacks Investment Research. Oppenheimer Holdings analyst J. Giannakouros now expects that the conglomerate will earn $5.05 per share for the year, up from their previous estimate of $4.95. Oppenheimer Holdings currently has a “Buy” rating and a $92.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Crane’s FY2019 earnings at $5.55 EPS.
Several other brokerages also recently issued reports on CR. BidaskClub downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Wolfe Research upgraded shares of Crane from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Finally, Bank of America Corporation raised their price objective on shares of Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $92.14.
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Crane (NYSE CR) opened at $82.67 on Thursday. The firm has a market capitalization of $4,906.46, a PE ratio of 18.92, a PEG ratio of 1.81 and a beta of 1.17. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. Crane has a 1-year low of $67.62 and a 1-year high of $86.67.
Crane (NYSE:CR) last released its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ 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 revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS.
Hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC lifted its stake in shares of Crane by 33.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after buying an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Crane by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after buying an additional 140 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Crane by 221.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock valued at $148,000 after buying an additional 1,282 shares in the last quarter. Howe & Rusling Inc. raised its position in shares of Crane by 88.5% during the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after buying an additional 1,057 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in shares of Crane by 54.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after buying an additional 800 shares in the last quarter. Institutional investors own 69.02% of the company’s stock.
In other news, VP Augustus I. Dupont sold 3,556 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $83.89, for a total transaction of $298,312.84. Following the completion of the transaction, the vice president now directly owns 80,560 shares of the company’s stock, valued at approximately $6,758,178.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director E Thayer Bigelow sold 6,000 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $73.73, for a total transaction of $442,380.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,403 shares of company stock valued at $2,693,998. 3.10% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s payout ratio is presently 59.19%.
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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