Crane Company (CR) PT Raised to $104.00

Crane Company (NYSE:CR) had its price objective raised by Bank of America Corporation from $90.00 to $104.00 in a research note released on Wednesday. They currently have a buy rating on the conglomerate’s stock.

Other analysts also recently issued research reports about the company. Stifel Nicolaus reaffirmed a hold rating and set a $84.00 price objective on shares of Crane in a research note on Thursday, July 6th. Scotiabank reaffirmed a buy rating on shares of Crane in a research note on Tuesday, October 10th. Boenning Scattergood reaffirmed a hold rating on shares of Crane in a research note on Tuesday, October 24th. Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $92.00 price objective (up previously from $88.00) on shares of Crane in a research note on Wednesday. Finally, BidaskClub downgraded Crane from a buy rating to a hold rating in a research note on Saturday, August 19th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Crane currently has a consensus rating of Buy and a consensus price target of $81.63.

Shares of Crane (CR) traded down 0.88% on Wednesday, hitting $85.33. The stock had a trading volume of 307,476 shares. Crane has a one year low of $66.29 and a one year high of $86.67. The company has a market capitalization of $5.09 billion, a P/E ratio of 38.87 and a beta of 1.12. The firm has a 50 day moving average price of $80.17 and a 200 day moving average price of $78.33.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The business 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 firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. On average, equities research analysts predict that Crane will post $4.52 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, November 29th. Crane’s dividend payout ratio (DPR) is presently 59.19%.

In other news, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $76.20, for a total value of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares in the company, valued at approximately $1,888,693.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward S. Switter sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now owns 23,873 shares of the company’s stock, valued at approximately $1,767,318.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,200 shares of company stock valued at $1,661,630. Corporate insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Crane by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock valued at $326,871,000 after acquiring an additional 95,817 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Crane by 2.0% in the 2nd quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after acquiring an additional 80,055 shares in the last quarter. State Street Corp grew its holdings in shares of Crane by 2.1% in the 2nd quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after acquiring an additional 26,771 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Crane by 115.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock valued at $101,056,000 after acquiring an additional 682,934 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Crane by 50.8% in the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock valued at $53,033,000 after acquiring an additional 223,225 shares in the last quarter. Institutional investors own 69.44% of the company’s stock.

About Crane

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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