Crane Company Declares Quarterly Dividend of $0.33 (CR)
Crane Company (NYSE:CR) announced a quarterly dividend on Monday, October 23rd, RTT News reports. Shareholders of record on Thursday, November 30th will be given a dividend of 0.33 per share by the conglomerate on Friday, December 8th. This represents a $1.32 dividend on an annualized basis and a yield of 1.58%.
Crane has raised its dividend by an average of 4.4% annually over the last three years. Crane has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Crane to earn $5.02 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.3%.
Crane (NYSE CR) traded down 0.59% during midday trading on Monday, reaching $83.61. 383,929 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $78.65 and a 200 day moving average price of $77.96. The company has a market cap of $4.98 billion, a P/E ratio of 38.09 and a beta of 1.12. Crane has a 12 month low of $59.81 and a 12 month high of $84.52.
Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, hitting the consensus estimate of $1.17. The firm had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 EPS. On average, equities analysts anticipate that Crane will post $4.49 EPS for the current year.
In related news, VP Edward S. Switter sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the sale, the vice president now directly owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director E Thayer Bigelow sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,200 shares of company stock worth $1,661,630. 3.10% of the stock is currently owned by insiders.
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Several research analysts have weighed in on the company. Scotiabank reiterated a “buy” rating on shares of Crane in a research report on Tuesday, October 10th. Stifel Nicolaus reiterated a “hold” rating and set a $84.00 price objective on shares of Crane in a research report on Wednesday, October 4th. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Boenning Scattergood reiterated a “hold” rating on shares of Crane in a research report on Monday, October 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Crane in a research report on Monday, September 25th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $76.38.
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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