Deutsche Bank Aktiengesellschaft Raises Crane (NYSE:CR) Price Target to $182.00

Crane (NYSE:CR) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $175.00 to $182.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Separately, Stifel Nicolaus raised their price target on shares of Crane from $157.00 to $168.00 and gave the stock a buy rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $156.17.

Crane Stock Performance

Shares of CR stock opened at $159.17 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company’s fifty day moving average price is $151.89 and its two-hundred day moving average price is $145.79. The firm has a market capitalization of $9.10 billion, a P/E ratio of 42.67, a P/E/G ratio of 1.93 and a beta of 0.77. Crane has a 12 month low of $82.57 and a 12 month high of $162.34.

Crane (NYSE:CR) last announced its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $581.00 million for the quarter, compared to analyst estimates of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 earnings per share. On average, research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given a $0.205 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane’s payout ratio is 21.98%.

Institutional Investors Weigh In On Crane

Several institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its stake in Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 131 shares during the period. ORG Partners LLC acquired a new stake in shares of Crane during the 2nd quarter worth approximately $31,000. Blue Trust Inc. lifted its holdings in shares of Crane by 29.9% in the 2nd quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after purchasing an additional 112 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Crane during the 2nd quarter valued at approximately $123,000. Finally, Canada Pension Plan Investment Board bought a new position in Crane during the 2nd quarter worth $159,000. 75.14% of the stock is owned by institutional investors and hedge funds.

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.