Crane Company (CR) Given Average Rating of “Buy” by Brokerages
Crane Company (NYSE:CR) has been given an average recommendation of “Buy” by the sixteen analysts that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $74.57.
Several equities analysts recently weighed in on CR shares. Zacks Investment Research cut shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wolfe Research began coverage on shares of Crane in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th.
In other news, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.20, for a total value of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director E Thayer Bigelow sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $73.73, for a total transaction of $442,380.00. The disclosure for this sale can be found here. Insiders sold 22,200 shares of company stock valued at $1,661,630 in the last three months. 3.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. ClariVest Asset Management LLC raised its holdings in Crane by 15.7% during the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after purchasing an additional 200 shares in the last quarter. Acrospire Investment Management LLC grew its position in shares of Crane by 33.3% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after acquiring an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Crane by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after acquiring an additional 140 shares during the last quarter. Global X Management Co. LLC grew its position in shares of Crane by 221.0% during the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after acquiring an additional 1,282 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Crane during the second quarter worth approximately $204,000. 69.42% of the stock is owned by institutional investors and hedge funds.
Shares of Crane (NYSE CR) opened at 78.35 on Friday. Crane has a one year low of $59.81 and a one year high of $84.34. The company has a market cap of $4.67 billion, a PE ratio of 35.69 and a beta of 1.11. The firm’s 50-day moving average is $74.59 and its 200-day moving average is $76.89.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. The firm had revenue of $702.50 million for the quarter, compared to the consensus estimate of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. On average, equities analysts anticipate that Crane will post $4.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 31st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, August 29th. Crane’s dividend payout ratio is currently 60.83%.
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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