Crane Company (NYSE:CR) has earned an average rating of “Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $74.43.

CR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Monday, July 17th. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Wolfe Research initiated coverage on Crane in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Stifel Nicolaus reissued a “hold” rating and set a $85.00 target price on shares of Crane in a report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Crane in a report on Monday, September 25th.

In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $76.20, for a total value of $701,040.00. Following the transaction, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Edward S. Switter sold 7,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now directly owns 23,873 shares in the company, valued at $1,767,318.19. The disclosure for this sale can be found here. Insiders have sold a total of 22,200 shares of company stock worth $1,661,630 over the last three months. 3.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Crane by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock valued at $326,871,000 after buying an additional 95,817 shares in the last quarter. BlackRock Inc. grew its holdings in Crane by 2.0% in the 2nd quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after buying an additional 80,055 shares in the last quarter. State Street Corp grew its holdings in Crane by 2.1% in the 2nd quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after buying an additional 26,771 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Crane by 115.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock valued at $101,056,000 after buying an additional 682,934 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Crane by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock valued at $51,002,000 after buying an additional 11,670 shares in the last quarter. 69.42% of the stock is currently owned by hedge funds and other institutional investors.

Crane (NYSE CR) opened at 82.05 on Wednesday. The firm’s 50-day moving average price is $77.47 and its 200 day moving average price is $77.70. Crane has a one year low of $59.81 and a one year high of $84.34. The firm has a market cap of $4.89 billion, a P/E ratio of 37.38 and a beta of 1.12.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.17. Crane had a return on equity of 20.57% and a net margin of 4.79%. The company had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $702.53 million. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Crane will post $4.48 EPS for the current year.

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About Crane

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.

Analyst Recommendations for Crane (NYSE:CR)

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