Crane (NYSE:CR) Price Target Raised to $175.00 at Deutsche Bank Aktiengesellschaft

Crane (NYSE:CR) had its price target increased by Deutsche Bank Aktiengesellschaft from $170.00 to $175.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

CR has been the subject of a number of other research reports. Stifel Nicolaus upped their price target on Crane from $157.00 to $168.00 and gave the company a buy rating in a research report on Thursday, July 18th. UBS Group upped their price objective on shares of Crane from $120.00 to $152.00 and gave the stock a neutral rating in a report on Wednesday, May 15th. DA Davidson increased their price target on shares of Crane from $142.00 to $160.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. StockNews.com upgraded Crane from a hold rating to a buy rating in a report on Saturday, April 27th. Finally, Bank of America raised their price objective on Crane from $140.00 to $165.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $155.00.

Crane Trading Down 4.9 %

NYSE CR traded down $7.51 during trading on Thursday, hitting $147.16. 56,722 shares of the company’s stock traded hands, compared to its average volume of 238,777. The firm has a market cap of $8.41 billion, a P/E ratio of 41.45, a PEG ratio of 1.93 and a beta of 0.81. The stock has a fifty day moving average of $146.98 and a two-hundred day moving average of $136.50. 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 has a 12-month low of $82.57 and a 12-month high of $162.34.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $581.00 million during the quarter, compared to the consensus estimate of $568.33 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 30th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.56%. Crane’s payout ratio is currently 21.98%.

Institutional Investors Weigh In On Crane

Several institutional investors have recently modified their holdings of the business. Allegheny Financial Group LTD bought a new position in shares of Crane in the 2nd quarter worth approximately $209,000. CIBC Asset Management Inc bought a new stake in Crane during the 2nd quarter worth approximately $232,000. Cascade Financial Partners LLC increased its stake in shares of Crane by 8.9% in the second quarter. Cascade Financial Partners LLC now owns 3,070 shares of the conglomerate’s stock worth $445,000 after purchasing an additional 250 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Crane by 27.3% during the 2nd quarter. Van ECK Associates Corp now owns 21,638 shares of the conglomerate’s stock valued at $3,137,000 after buying an additional 4,639 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Crane by 3.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,710 shares of the conglomerate’s stock worth $1,263,000 after buying an additional 263 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

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.