Crane (NYSE:CR) Reaches New 12-Month High at $136.11

Crane (NYSE:CRGet Free Report)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $136.11 and last traded at $136.11, with a volume of 2231 shares. The stock had previously closed at $135.20.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Crane from $124.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Bank of America boosted their price objective on shares of Crane from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, StockNews.com raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $113.67.

Read Our Latest Stock Report on CR

Crane Stock Performance

The stock’s 50-day moving average price is $126.25 and its 200 day moving average price is $110.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a market cap of $7.78 billion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CRGet Free Report) last announced its quarterly earnings data on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $532.90 million for the quarter, compared to analyst estimates of $519.55 million. As a group, equities analysts predict that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a dividend of $0.205 per share. This is a positive change from Crane’s previous quarterly dividend of $0.18. This represents a $0.82 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, February 28th. Crane’s dividend payout ratio is 22.22%.

Institutional Trading of Crane

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in Crane by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 99 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Crane by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock valued at $936,000 after purchasing an additional 99 shares during the last quarter. Janney Capital Management LLC increased its holdings in shares of Crane by 3.2% in the fourth quarter. Janney Capital Management LLC now owns 3,560 shares of the conglomerate’s stock valued at $421,000 after purchasing an additional 110 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Crane by 14.1% in the first quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 133 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Crane by 1.1% in the first quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock valued at $1,408,000 after purchasing an additional 136 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Crane Company Profile

(Get Free Report)

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.

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