Crane (CR) Upgraded at Vertical Research
Crane (NYSE:CR) was upgraded by stock analysts at Vertical Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
Several other research firms have also recently issued reports on CR. Oppenheimer reiterated a “buy” rating and issued a $92.00 target price (up from $88.00) on shares of Crane in a research note on Wednesday, October 25th. Wolfe Research cut shares of Crane from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Stifel Nicolaus boosted their target price on shares of Crane from $85.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Bank of America boosted their target price on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Seaport Global Securities upgraded shares of Crane from a “neutral” rating to a “buy” rating and boosted their target price for the company from $78.00 to $95.00 in a research note on Thursday, October 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Crane presently has an average rating of “Buy” and an average price target of $93.33.
Shares of Crane (NYSE CR) traded down $1.36 during midday trading on Wednesday, reaching $82.54. 239,900 shares of the company’s stock traded hands, compared to its average volume of 315,428. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66. Crane has a twelve month low of $67.62 and a twelve month high of $86.67. The firm has a market cap of $4,979.46, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17.
In other news, VP Augustus I. Dupont sold 11,130 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP A D. Pantaleoni sold 4,650 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $83.11, for a total transaction of $386,461.50. Following the sale, the vice president now directly owns 1,076 shares of the company’s stock, valued at approximately $89,426.36. The disclosure for this sale can be found here. Insiders have sold 22,403 shares of company stock valued at $1,896,288 over the last 90 days. 3.10% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in shares of Crane by 7.8% in the second quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock valued at $4,288,000 after purchasing an additional 3,894 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Crane by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock valued at $51,002,000 after purchasing an additional 11,670 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Crane by 23.7% in the second quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock valued at $46,237,000 after purchasing an additional 111,581 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Crane by 50.8% in the third quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock valued at $53,033,000 after purchasing an additional 223,225 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Crane in the second quarter valued at about $204,000. 68.36% of the stock is owned by institutional investors and hedge funds.
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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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