Short Interest in Crane (NYSE:CR) Increases By 7.8%

Crane (NYSE:CRGet Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 900,400 shares, a growth of 7.8% from the February 29th total of 835,300 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 248,000 shares, the short-interest ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

CR has been the subject of a number of research analyst reports. Bank of America upped their target price on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Stifel Nicolaus upped their target price on Crane from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research report 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. Based on data from MarketBeat.com, Crane has an average rating of “Moderate Buy” and a consensus price target of $113.67.

View Our Latest Report on CR

Crane Price Performance

Shares of NYSE:CR traded up $1.17 on Wednesday, reaching $136.37. 33,550 shares of the company traded hands, compared to its average volume of 247,227. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $136.98. The company’s 50 day moving average is $126.25 and its 200-day moving average is $110.65. The stock has a market capitalization of $7.79 billion, a PE ratio of 36.92, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CRGet Free Report) last released its earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $532.90 million during the quarter, compared to analyst estimates of $519.55 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. As a group, analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Crane’s previous quarterly dividend of $0.18. Crane’s dividend payout ratio is presently 22.22%.

Institutional Trading of Crane

A number of hedge funds have recently modified their holdings of CR. BlackRock Inc. increased its stake in shares of Crane by 97.2% in the second quarter. BlackRock Inc. now owns 8,031,020 shares of the conglomerate’s stock worth $584,384,000 after acquiring an additional 3,959,145 shares during the last quarter. State Street Corp increased its stake in shares of Crane by 93.0% in the second quarter. State Street Corp now owns 2,666,141 shares of the conglomerate’s stock worth $193,106,000 after acquiring an additional 1,285,048 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Crane by 76.8% in the second quarter. Gamco Investors INC. ET AL now owns 2,408,030 shares of the conglomerate’s stock worth $179,899,000 after acquiring an additional 1,046,295 shares during the last quarter. Congress Asset Management Co. MA increased its stake in shares of Crane by 120.5% in the third quarter. Congress Asset Management Co. MA now owns 1,316,245 shares of the conglomerate’s stock worth $116,935,000 after acquiring an additional 719,408 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Crane by 63.6% in the second quarter. Alliancebernstein L.P. now owns 1,540,926 shares of the conglomerate’s stock worth $89,456,000 after acquiring an additional 599,080 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

About Crane

(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.

Further Reading

Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.