Crane Co. (NYSE:CR) received a $8.00 price target from Credit Suisse Group AG in a report issued on Sunday. The firm presently has a “hold” rating on the stock. Credit Suisse Group AG’s price target points to a potential downside of 89.45% from the stock’s current price.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Friday, October 28th. Canaccord Genuity upped their price target on Crane from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, October 26th. Stifel Nicolaus upped their price target on Crane from $65.00 to $69.00 and gave the stock a “hold” rating in a report on Wednesday, October 26th. Avondale Partners restated a “market perform” rating on shares of Crane in a report on Wednesday, October 12th. Finally, Bank of America Corp. upgraded Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target on the stock in a report on Friday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $60.08.
Shares of Crane (NYSE:CR) traded up 0.24% on Friday, hitting $75.85. The stock had a trading volume of 119,704 shares. The firm has a market cap of $4.45 billion, a PE ratio of 17.76 and a beta of 1.13. The firm’s 50-day moving average price is $67.47 and its 200 day moving average price is $62.08. Crane has a 52-week low of $41.68 and a 52-week high of $76.09.
Crane (NYSE:CR) last posted its quarterly earnings data on Monday, October 24th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.06. The firm had revenue of $694 million for the quarter, compared to the consensus estimate of $666.89 million. Crane had a return on equity of 20.59% and a net margin of 9.17%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) EPS. On average, equities research analysts predict that Crane will post $4.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 30th will be given a $0.33 dividend. The ex-dividend date is Monday, November 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.74%. Crane’s dividend payout ratio (DPR) is presently 30.99%.
In related news, Director Philip R. Lochner sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $68.26, for a total value of $136,520.00. Following the completion of the sale, the director now directly owns 2,350 shares of the company’s stock, valued at approximately $160,411. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Augustus I. Dupont sold 3,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $68.29, for a total value of $204,870.00. Following the completion of the sale, the vice president now directly owns 93,753 shares of the company’s stock, valued at $6,402,392.37. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Crane by 11.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,638 shares of the company’s stock worth $103,000 after buying an additional 170 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Crane by 234.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,498 shares of the company’s stock worth $158,000 after buying an additional 1,750 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock worth $173,000 after buying an additional 1,305 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in Crane during the third quarter worth $192,000. Finally, Citigroup Inc. boosted its stake in Crane by 32.9% in the second quarter. Citigroup Inc. now owns 3,469 shares of the company’s stock worth $197,000 after buying an additional 859 shares during the last quarter. 67.23% of the stock is owned by hedge funds and other institutional investors.
Crane Company Profile