Crane Company (NYSE:CR) Upgraded to “Buy” by BidaskClub
Crane Company (NYSE:CR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.
CR has been the subject of several other research reports. Zacks Investment Research downgraded shares of Crane Company from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. TheStreet raised shares of Crane Company from a “c+” rating to a “b+” rating in a research report on Monday, April 24th. ValuEngine raised shares of Crane Company from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. William Blair raised shares of Crane Company from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 25th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $90.00 price target (up previously from $82.00) on shares of Crane Company in a research report on Monday, May 1st. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Crane Company presently has a consensus rating of “Hold” and a consensus target price of $73.40.
Crane Company (NYSE CR) traded up 1.43% on Friday, reaching $81.75. 214,611 shares of the company’s stock traded hands. The firm has a market capitalization of $4.86 billion, a P/E ratio of 37.14 and a beta of 1.11. Crane Company has a 52 week low of $54.64 and a 52 week high of $82.35. The stock has a 50-day moving average of $78.37 and a 200 day moving average of $75.51.
Crane Company (NYSE:CR) last issued its quarterly earnings data on Monday, April 24th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Crane Company had a net margin of 4.74% and a return on equity of 20.85%. The company had revenue of $673.40 million during the quarter, compared to the consensus estimate of $655.84 million. During the same quarter last year, the company earned $0.93 earnings per share. Crane Company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts expect that Crane Company will post $4.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Wednesday, May 31st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Friday, May 26th. Crane Company’s dividend payout ratio is presently 60.55%.
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In other Crane Company news, insider Thomas J. Craney sold 4,500 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $80.45, for a total value of $362,025.00. Following the sale, the insider now directly owns 19,562 shares in the company, valued at $1,573,762.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard A. Maue sold 14,528 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $79.83, for a total value of $1,159,770.24. Following the completion of the sale, the vice president now owns 28,906 shares in the company, valued at $2,307,565.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,392 shares of company stock valued at $2,109,190. 3.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of CR. Nuveen Asset Management LLC boosted its stake in Crane Company by 65.7% in the first quarter. Nuveen Asset Management LLC now owns 30,898 shares of the conglomerate’s stock worth $2,312,000 after buying an additional 12,250 shares during the last quarter. Bragg Financial Advisors Inc boosted its stake in Crane Company by 0.3% in the first quarter. Bragg Financial Advisors Inc now owns 27,275 shares of the conglomerate’s stock worth $2,041,000 after buying an additional 70 shares during the last quarter. Broderick Brian C bought a new stake in Crane Company during the first quarter worth about $202,000. Credit Suisse AG boosted its stake in Crane Company by 10.3% in the first quarter. Credit Suisse AG now owns 69,272 shares of the conglomerate’s stock worth $5,184,000 after buying an additional 6,476 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Crane Company by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 46,810 shares of the conglomerate’s stock worth $3,503,000 after buying an additional 257 shares during the last quarter. Institutional investors own 69.08% of the company’s stock.
Crane Company Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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