Brokerages Set Crane (NYSE:CR) Price Target at $157.33

Crane (NYSE:CR) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $157.33.

Several equities research analysts have recently commented on CR shares. Stifel Nicolaus boosted their price target on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd.

Crane Stock Up 0.0 %

Shares of CR opened at $157.35 on Wednesday. The firm has a fifty day moving average price of $154.75 and a 200-day moving average price of $148.79. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.00 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.93 and a beta of 0.77. Crane has a 12-month low of $98.06 and a 12-month high of $163.48.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.06. The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. Equities research analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.52%. Crane’s payout ratio is 18.06%.

Institutional Trading of Crane

Institutional investors have recently made changes to their positions in the business. Capital International Investors boosted its stake in Crane by 103.3% in the 1st quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock worth $182,216,000 after purchasing an additional 685,230 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Crane by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 771,709 shares of the conglomerate’s stock valued at $111,882,000 after purchasing an additional 70,297 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Crane by 13.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock worth $98,354,000 after purchasing an additional 83,938 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Crane by 7.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 564,441 shares of the conglomerate’s stock valued at $81,833,000 after purchasing an additional 38,310 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Crane by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock valued at $62,420,000 after purchasing an additional 4,276 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

About Crane

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.