Crane Co. (NYSE:CR) announced a quarterly dividend on Monday, January 29th, RTT News reports. Shareholders of record on Wednesday, February 28th will be given a dividend of 0.35 per share by the conglomerate on Friday, March 9th. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%. This is an increase from Crane’s previous quarterly dividend of $0.33.
Crane has raised its dividend payment by an average of 1.6% per year over the last three years. Crane has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Crane to earn $5.10 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 25.9%.
Crane (NYSE:CR) traded down $0.69 during mid-day trading on Monday, reaching $93.40. 227,551 shares of the company’s stock were exchanged, compared to its average volume of 260,013. The firm has a market cap of $5,584.23, a P/E ratio of 41.98, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. 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 12 month low of $67.62 and a 12 month high of $94.32.
CR has been the subject of several analyst reports. Wolfe Research cut shares of Crane from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Seaport Global Securities raised shares of Crane from a “neutral” rating to a “buy” rating and increased their price target for the company from $78.00 to $95.00 in a research note on Thursday, October 26th. Boenning Scattergood reissued a “hold” rating on shares of Crane in a research note on Tuesday, October 24th. Stifel Nicolaus reissued a “hold” rating and issued a $84.00 price target on shares of Crane in a research note on Wednesday, October 4th. Finally, ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Crane currently has a consensus rating of “Buy” and an average target price of $96.43.
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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