Crane Co. (NYSE:CR) had its target price raised by Canaccord Genuity from $65.00 to $70.00 in a research report report published on Wednesday. Canaccord Genuity currently has a hold rating on the stock.
A number of other research analysts have also weighed in on CR. RBC Capital Markets reissued a sector perform rating and set a $63.00 target price (up previously from $57.00) on shares of Crane in a research report on Wednesday, July 27th. Royal Bank Of Canada boosted their target price on shares of Crane from $57.00 to $63.00 and gave the stock a sector perform rating in a research report on Wednesday, July 27th. Zacks Investment Research raised shares of Crane from a sell rating to a hold rating and set a $69.00 target price for the company in a research report on Wednesday, July 27th. Alembic Global Advisors assumed coverage on shares of Crane in a research report on Monday, July 11th. They set a neutral rating and a $61.00 target price for the company. Finally, Credit Suisse Group AG reissued a hold rating on shares of Crane in a research report on Friday, August 5th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $64.82.
Crane (NYSE:CR) opened at 68.21 on Wednesday. The firm has a 50-day moving average of $62.26 and a 200-day moving average of $59.89. The company has a market cap of $3.99 billion, a PE ratio of 15.97 and a beta of 1.37. Crane has a one year low of $41.68 and a one year high of $69.00.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, October 24th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.06. Crane had a net margin of 9.17% and a return on equity of 20.59%. The business earned $694 million during the quarter, compared to analyst estimates of $44.92 million. During the same quarter in the previous year, the business earned ($0.13) EPS. Crane’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Crane will post $4.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 30th will be paid a $0.33 dividend. The ex-dividend date is Monday, November 28th. This represents a $1.32 dividend on an annualized basis and a yield of 1.94%. Crane’s payout ratio is currently 30.99%.
In other Crane news, Director E Thayer Bigelow sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $64.96, for a total value of $259,840.00. Following the transaction, the director now directly owns 21,791 shares in the company, valued at $1,415,543.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP A D. Pantaleoni sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total transaction of $313,700.00. Following the completion of the transaction, the vice president now owns 9,876 shares in the company, valued at $619,620.24. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC raised its position in Crane by 1,221.1% in the second quarter. Freestone Capital Holdings LLC now owns 335,531 shares of the company’s stock worth $19,031,000 after buying an additional 310,133 shares during the period. Vanguard Group Inc. raised its position in Crane by 7.4% in the second quarter. Vanguard Group Inc. now owns 3,869,873 shares of the company’s stock worth $219,500,000 after buying an additional 265,637 shares during the period. SG Americas Securities LLC raised its position in Crane by 1,176.5% in the second quarter. SG Americas Securities LLC now owns 243,517 shares of the company’s stock worth $13,812,000 after buying an additional 224,440 shares during the period. Emerald Acquisition Ltd. purchased a new position in Crane during the second quarter worth approximately $11,362,000. Finally, Foundry Partners LLC purchased a new position in Crane during the second quarter worth approximately $10,643,000. Hedge funds and other institutional investors own 67.54% of the company’s stock.