Oppenheimer reiterated their buy rating on shares of Crane (NYSE:CR) in a research report report published on Tuesday morning.
A number of other equities analysts also recently issued reports on CR. Wolfe Research upgraded Crane from a market perform rating to an outperform rating in a research note on Monday, August 14th. Boenning Scattergood restated a hold rating on shares of Crane in a research note on Monday, October 2nd. BidaskClub downgraded Crane from a buy rating to a hold rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded Crane from a hold rating to a buy rating and set a $90.00 price target on the stock in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $84.00 target price on shares of Crane in a report on Wednesday, October 4th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $93.83.
Crane (NYSE:CR) traded up $0.45 during mid-day trading on Tuesday, hitting $86.77. The stock had a trading volume of 433,400 shares, compared to its average volume of 317,110. The stock has a market cap of $5,123.08, a P/E ratio of 19.75, a P/E/G ratio of 1.89 and a beta of 1.17. Crane has a 52-week low of $67.62 and a 52-week high of $87.32. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last released its quarterly 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 for the quarter, compared to the consensus estimate of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. sell-side analysts expect that Crane will post 4.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.52%. Crane’s dividend payout ratio is currently 59.19%.
In other Crane news, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the sale, the vice president now directly owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James L. L. Tullis sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the sale, the director now directly owns 2,110 shares in the company, valued at $171,838.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,403 shares of company stock worth $1,896,288. 3.10% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Acrospire Investment Management LLC raised its holdings in Crane by 33.3% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after acquiring an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Crane by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after acquiring an additional 140 shares during the period. Global X Management Co. LLC raised its holdings in Crane by 221.0% during the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock valued at $148,000 after acquiring an additional 1,282 shares during the period. Howe & Rusling Inc. raised its holdings in Crane by 88.5% during the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after acquiring an additional 1,057 shares during the period. Finally, ClariVest Asset Management LLC increased its holdings in shares of Crane by 54.2% in the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after purchasing an additional 800 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.
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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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