Crane Company (CR) Issues Quarterly Earnings Results
Crane Company (NYSE:CR) issued its quarterly earnings results on Monday. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03, Bloomberg Earnings reports. Crane had a net margin of 4.79% and a return on equity of 20.57%. During the same period last year, the company posted $1.07 EPS.
Shares of Crane (CR) traded down 0.59% during mid-day trading on Monday, hitting $83.61. 383,981 shares of the company traded hands. Crane has a one year low of $59.81 and a one year high of $84.52. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 38.09 and a beta of 1.12. The firm has a 50-day moving average of $78.65 and a 200-day moving average of $77.96.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.58%. Crane’s payout ratio is 60.83%.
A number of research analysts have recently commented on CR shares. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Monday, July 17th. Stifel Nicolaus reissued a “hold” rating and issued a $85.00 price objective on shares of Crane in a research report on Friday, July 14th. Wolfe Research started coverage on shares of Crane in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Scotiabank reissued a “buy” rating on shares of Crane in a research report on Tuesday, October 10th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Crane has a consensus rating of “Buy” and a consensus price target of $76.38.
In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares in the company, valued at $1,888,693.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Edward S. Switter sold 7,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $74.03, for a total transaction of $518,210.00. Following the transaction, the vice president now owns 23,873 shares of the company’s stock, valued at approximately $1,767,318.19. The disclosure for this sale can be found here. Insiders have sold 22,200 shares of company stock valued at $1,661,630 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.
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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