Crane (NYSE:CR) Shares Gap Up on Earnings Beat

Crane (NYSE:CR) shares gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $156.44, but opened at $164.55. Crane shares last traded at $171.54, with a volume of 68,510 shares.

The conglomerate reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same period in the previous year, the business earned $0.90 earnings per share.

Crane Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, February 28th. This is a boost from Crane’s previous quarterly dividend of $0.21. Crane’s payout ratio is 18.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CR shares. UBS Group boosted their price target on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Stifel Nicolaus dropped their target price on shares of Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.80.

Institutional Investors Weigh In On Crane

Several large investors have recently modified their holdings of CR. Matrix Trust Co acquired a new position in Crane in the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in shares of Crane during the third quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of Crane during the third quarter worth about $30,000. UMB Bank n.a. raised its position in Crane by 81.8% in the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. Finally, Quarry LP bought a new stake in Crane in the 3rd quarter valued at approximately $37,000. 75.14% of the stock is currently owned by institutional investors.

Crane Trading Up 12.3 %

The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 1.93 and a beta of 1.22. The business has a 50-day simple moving average of $163.64 and a two-hundred day simple moving average of $158.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

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.