Crane (NYSE:CR) Stock Price Up 5% Following Better-Than-Expected Earnings

Crane (NYSE:CR)’s share price traded up 5% on Tuesday following a better than expected earnings announcement. The company traded as high as $160.26 and last traded at $159.98. 225,293 shares were traded during mid-day trading, a decline of 2% from the average session volume of 230,720 shares. The stock had previously closed at $152.39.

The conglomerate reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue was up 12.7% on a year-over-year basis.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.52%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Analyst Upgrades and Downgrades

CR has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus increased their price objective on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.33.

Institutional Trading of Crane

Several large investors have recently bought and sold shares of the business. Matrix Trust Co acquired a new stake in Crane during the third quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Crane during the 3rd quarter valued at approximately $28,000. Covestor Ltd raised its position in shares of Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after buying an additional 131 shares during the period. ORG Wealth Partners LLC purchased a new position in Crane in the third quarter worth approximately $30,000. Finally, ORG Partners LLC acquired a new stake in Crane during the second quarter worth $31,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Crane Price Performance

The stock has a 50-day simple moving average of $154.36 and a 200 day simple moving average of $148.46. The company has a market cap of $9.09 billion, a PE ratio of 35.00, a P/E/G ratio of 1.93 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane Company Profile

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.