UBS upgraded shares of Crane (NYSE:CR) from a neutral rating to a positive rating in a research note released on Wednesday, thefly.com reports.
Several other research firms have also weighed in on CR. Canaccord Genuity dropped their price objective on shares of Crane from $100.00 to $99.95 in a research note on Wednesday, January 31st. Zacks Investment Research downgraded shares of Crane from a buy rating to a hold rating in a report on Tuesday, April 3rd. Stifel Nicolaus upgraded shares of Crane from a hold rating to a buy rating and lifted their target price for the stock from $99.00 to $113.00 in a report on Wednesday, January 31st. ValuEngine upgraded shares of Crane from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, Oppenheimer reiterated a buy rating and issued a $105.00 target price (up previously from $92.00) on shares of Crane in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Crane presently has a consensus rating of Buy and an average target price of $106.67.
CR traded down $1.64 during trading on Wednesday, hitting $85.10. The company’s stock had a trading volume of 172,885 shares, compared to its average volume of 291,740. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.40 and a current ratio of 1.79. The company has a market capitalization of $5,236.25, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. Crane has a twelve month low of $71.23 and a twelve month high of $102.65.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, April 23rd. The conglomerate reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.04. The company had revenue of $799.00 million during the quarter, compared to the consensus estimate of $802.47 million. Crane had a return on equity of 21.08% and a net margin of 6.09%. Crane’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS. equities research analysts forecast that Crane will post 5.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, May 30th. Crane’s dividend payout ratio (DPR) is 30.91%.
In other Crane news, VP Augustus I. Dupont sold 16,396 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total value of $1,602,545.04. Following the completion of the sale, the vice president now owns 102,994 shares of the company’s stock, valued at $10,066,633.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James A. Lavish sold 12,984 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $94.90, for a total transaction of $1,232,181.60. Following the completion of the sale, the vice president now directly owns 16,997 shares of the company’s stock, valued at approximately $1,613,015.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,861 shares of company stock valued at $4,476,647. 3.00% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of CR. Fruth Investment Management acquired a new position in shares of Crane in the fourth quarter valued at approximately $205,000. Levin Capital Strategies L.P. acquired a new position in shares of Crane in the fourth quarter valued at approximately $208,000. JOYN Advisors Inc. acquired a new position in shares of Crane in the fourth quarter valued at approximately $213,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Crane by 51.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock valued at $240,000 after buying an additional 917 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Crane in the fourth quarter valued at approximately $267,000. 69.23% of the stock is owned by hedge funds and other institutional investors.
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Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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