Stifel Nicolaus reaffirmed their hold rating on shares of Crane (NYSE:CR) in a research report sent to investors on Tuesday morning. Stifel Nicolaus currently has a $99.00 price objective on the conglomerate’s stock, up from their prior price objective of $87.00.
Other equities analysts have also issued reports about the stock. Canaccord Genuity reaffirmed a buy rating and set a $95.00 target price on shares of Crane in a research report on Tuesday, December 5th. Oppenheimer reaffirmed a buy rating on shares of Crane in a research report on Tuesday, December 5th. Seaport Global Securities raised shares of Crane from a neutral rating to a buy rating and raised their target price for the stock from $78.00 to $95.00 in a research report on Thursday, October 26th. Bank of America lifted their price objective on shares of Crane from $90.00 to $104.00 and gave the company a buy rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research raised shares of Crane from a hold rating to a buy rating and set a $90.00 price objective on the stock in a report on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Crane currently has an average rating of Buy and a consensus price target of $95.83.
Shares of Crane (CR) traded up $0.02 during trading hours on Tuesday, hitting $92.30. 194,400 shares of the stock were exchanged, compared to its average volume of 249,400. The stock has a market capitalization of $5,476.81, a price-to-earnings ratio of 41.39, a PEG ratio of 1.85 and a beta of 1.17. Crane has a fifty-two week low of $67.62 and a fifty-two week high of $93.59. 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 issued its earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. The business had revenue of $695.90 million for the quarter, compared to analyst estimates of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. sell-side analysts expect that Crane will post 4.53 EPS for the current fiscal year.
In other Crane news, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $86.28, for a total value of $960,296.40. Following the completion of the sale, the vice president now directly owns 84,116 shares in the company, valued at $7,257,528.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director E Thayer Bigelow sold 1,067 shares of the firm’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 transaction 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 worth $1,896,288. 3.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in Crane by 97.7% in the fourth quarter. Bank of Montreal Can now owns 119,002 shares of the conglomerate’s stock valued at $10,616,000 after acquiring an additional 58,796 shares in the last quarter. Fruth Investment Management acquired a new stake in Crane in the fourth quarter valued at approximately $205,000. AXA boosted its stake in Crane by 3.6% in the third quarter. AXA now owns 113,700 shares of the conglomerate’s stock valued at $9,095,000 after acquiring an additional 4,000 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Crane by 30.7% in the third quarter. Public Employees Retirement System of Ohio now owns 104,969 shares of the conglomerate’s stock valued at $8,396,000 after acquiring an additional 24,646 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Crane by 3.4% during the third quarter. California Public Employees Retirement System now owns 135,312 shares of the conglomerate’s stock worth $10,824,000 after buying an additional 4,412 shares during the period. Institutional investors own 68.30% of the company’s stock.
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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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