Crane Co. (NYSE:CR) has received an average rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $113.75.
A number of equities analysts recently commented on the stock. Bank of America started coverage on shares of Crane in a research note on Wednesday, September 8th. They set a “buy” rating and a $123.00 price target for the company. BMO Capital Markets upgraded shares of Crane to an “outperform” rating in a report on Monday, September 27th. Zacks Investment Research raised shares of Crane from a “sell” rating to a “hold” rating and set a $107.00 price objective on the stock in a research report on Wednesday, October 27th. Finally, DA Davidson boosted their target price on shares of Crane from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 26th. They noted that the move was a valuation call.
Several large investors have recently added to or reduced their stakes in the company. Utah Retirement Systems raised its position in shares of Crane by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 9,366 shares of the conglomerate’s stock valued at $865,000 after acquiring an additional 100 shares in the last quarter. Private Advisor Group LLC increased its position in Crane by 4.2% in the third quarter. Private Advisor Group LLC now owns 2,824 shares of the conglomerate’s stock worth $268,000 after buying an additional 113 shares during the period. Profund Advisors LLC increased its position in Crane by 4.1% in the second quarter. Profund Advisors LLC now owns 3,110 shares of the conglomerate’s stock worth $288,000 after buying an additional 123 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Crane by 49.3% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 427 shares of the conglomerate’s stock worth $40,000 after buying an additional 141 shares during the period. Finally, Greenleaf Trust increased its position in Crane by 4.4% in the third quarter. Greenleaf Trust now owns 3,423 shares of the conglomerate’s stock worth $325,000 after buying an additional 145 shares during the period. 70.68% of the stock is owned by institutional investors and hedge funds.
Crane (NYSE:CR) last announced its quarterly earnings data on Sunday, October 24th. The conglomerate reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.53. The firm had revenue of $833.50 million for the quarter, compared to the consensus estimate of $770.61 million. Crane had a net margin of 12.86% and a return on equity of 22.61%. The company’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. Equities research analysts expect that Crane will post 6.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 8th. Investors of record on Tuesday, November 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.64%. Crane’s dividend payout ratio (DPR) is 24.82%.
Crane Co engages in the manufacturing of engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.
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