Crane (NYSE:CR) Receives $137.00 Consensus Target Price from Analysts

Crane (NYSE:CR) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $137.00.

CR has been the topic of a number of recent analyst reports. DA Davidson raised their price target on Crane from $142.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Bank of America increased 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. Stifel Nicolaus lifted their price objective on shares of Crane from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Saturday, April 27th.

Institutional Investors Weigh In On Crane

Institutional investors have recently made changes to their positions in the company. Covestor Ltd increased its stake in Crane by 150.6% in the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after buying an additional 131 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Crane by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 99 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Crane in the 4th quarter worth $90,000. Jump Financial LLC purchased a new position in Crane during the 3rd quarter worth $201,000. Finally, Claret Asset Management Corp acquired a new position in Crane during the 4th quarter valued at about $201,000. Institutional investors own 75.14% of the company’s stock.

Crane Trading Up 2.2 %

NYSE CR opened at $145.44 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a fifty-two week low of $71.33 and a fifty-two week high of $146.68. The stock has a market cap of $8.31 billion, a P/E ratio of 38.99, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The stock has a 50 day simple moving average of $136.19 and a two-hundred day simple moving average of $121.44.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. On average, analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, May 31st. Crane’s payout ratio is 21.98%.

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.