Crane Co. (CR) Receives $107.88 Average PT from Analysts

Shares of Crane Co. (NYSE:CR) have been assigned an average recommendation of “Buy” from the fifteen analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $108.38.

CR has been the topic of a number of research reports. Stifel Nicolaus lifted their price objective on Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. UBS Group lifted their price objective on Crane from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Finally, ValuEngine raised Crane from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th.

NYSE CR traded down $1.93 during trading hours on Wednesday, reaching $96.32. The company’s stock had a trading volume of 37,231 shares, compared to its average volume of 288,469. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.65. Crane has a 1 year low of $78.93 and a 1 year high of $102.65. The stock has a market cap of $5.86 billion, a PE ratio of 21.40, a P/E/G ratio of 1.78 and a beta of 1.25.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, July 23rd. The conglomerate reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.06. Crane had a return on equity of 21.72% and a net margin of 6.17%. The company had revenue of $851.00 million for the quarter, compared to analysts’ expectations of $834.45 million. During the same period in the previous year, the firm earned $1.17 EPS. The firm’s revenue was up 21.1% compared to the same quarter last year. On average, analysts forecast that Crane will post 5.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 31st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, August 30th. Crane’s payout ratio is 30.91%.

In other news, insider Brendan Curran sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $91.07, for a total transaction of $273,210.00. Following the transaction, the insider now owns 14,346 shares of the company’s stock, valued at approximately $1,306,490.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Max H. Mitchell sold 40,765 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $89.18, for a total value of $3,635,422.70. Following the transaction, the insider now directly owns 200,654 shares in the company, valued at approximately $17,894,323.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,531 shares of company stock worth $7,477,261. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CR. Cambridge Investment Research Advisors Inc. bought a new position in shares of Crane during the 1st quarter valued at approximately $358,000. BlackRock Inc. grew its position in Crane by 2.2% in the 1st quarter. BlackRock Inc. now owns 4,303,084 shares of the conglomerate’s stock valued at $399,069,000 after acquiring an additional 93,264 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Crane by 60.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,596 shares of the conglomerate’s stock valued at $519,000 after acquiring an additional 2,101 shares during the last quarter. First Republic Investment Management Inc. grew its position in Crane by 16.0% in the 1st quarter. First Republic Investment Management Inc. now owns 6,760 shares of the conglomerate’s stock valued at $627,000 after acquiring an additional 934 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Crane by 8.2% in the 1st quarter. California Public Employees Retirement System now owns 150,537 shares of the conglomerate’s stock valued at $13,961,000 after acquiring an additional 11,369 shares during the last quarter. 68.33% of the stock is currently owned by hedge funds and other institutional investors.

About Crane

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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Analyst Recommendations for Crane (NYSE:CR)

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