Crane (NYSE:CR) Hits New 1-Year High – Here’s What Happened

Crane (NYSE:CR) hit a new 52-week high on Tuesday . The stock traded as high as $162.35 and last traded at $162.35, with a volume of 218744 shares. The stock had previously closed at $158.67.

Wall Street Analyst Weigh In

CR has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.33.

Crane Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market capitalization of $9.34 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The firm’s 50-day simple moving average is $153.55 and its 200 day simple moving average is $147.33.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $581.00 million for the quarter, compared to the consensus estimate of $568.33 million. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, August 30th. Crane’s dividend payout ratio (DPR) is 21.98%.

Hedge Funds Weigh In On Crane

Several hedge funds have recently added to or reduced their stakes in CR. Silvercrest Asset Management Group LLC grew its position in shares of Crane by 4.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 193,053 shares of the conglomerate’s stock valued at $26,087,000 after purchasing an additional 7,945 shares during the last quarter. Castleark Management LLC grew its holdings in Crane by 13.7% during the 1st quarter. Castleark Management LLC now owns 33,360 shares of the conglomerate’s stock valued at $4,508,000 after buying an additional 4,020 shares during the last quarter. Russell Investments Group Ltd. increased its position in Crane by 70.1% during the first quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock worth $10,190,000 after buying an additional 31,069 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Crane in the first quarter worth $911,000. Finally, Capital International Investors lifted its position in shares of Crane by 103.3% in the first quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock valued at $182,216,000 after acquiring an additional 685,230 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.