Crane Company (NYSE:CR)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research report issued on Friday.
A number of other equities analysts also recently commented on CR. Stifel Nicolaus reissued a “hold” rating and issued a $84.00 price objective on shares of Crane in a research note on Thursday, July 6th. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Wolfe Research started coverage on shares of Crane in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Monday, July 17th. Finally, ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $81.63.
Crane (CR) traded up $0.45 during midday trading on Friday, hitting $84.82. The company’s stock had a trading volume of 78,382 shares, compared to its average volume of 330,051. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. Crane has a 1 year low of $66.29 and a 1 year high of $86.67. The company has a market cap of $5,028.50, a price-to-earnings ratio of 19.31, a PEG ratio of 1.85 and a beta of 1.17.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s revenue was up .2% on a year-over-year basis. analysts forecast that Crane will post 4.53 earnings per share for the current year.
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In other Crane news, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction on Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Augustus I. Dupont sold 3,556 shares of Crane stock in a transaction on Wednesday, November 1st. The stock was 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 in the company, valued at $6,758,178.40. The disclosure for this sale can be found here. Insiders sold 33,403 shares of company stock worth $2,693,998 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Crane by 2.4% in the second quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock worth $326,871,000 after purchasing an additional 95,817 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Crane by 2.0% during the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after buying an additional 80,055 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Crane by 13.1% during the third quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock valued at $115,195,000 after buying an additional 167,051 shares during the last quarter. State Street Corp grew its holdings in shares of Crane by 2.1% during the second quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after buying an additional 26,771 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Crane by 0.4% during the third quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock valued at $90,797,000 after buying an additional 4,000 shares during the last quarter. 69.02% of the stock is currently owned by institutional investors and hedge funds.
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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