Stifel Nicolaus Cuts Crane (NYSE:CR) Price Target to $144.00

Crane (NYSE:CR) had its target price decreased by Stifel Nicolaus from $170.00 to $144.00 in a report released on Monday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the conglomerate’s stock.

CR has been the subject of several other research reports. DA Davidson reaffirmed a “buy” rating and set a $200.00 price target on shares of Crane in a research note on Tuesday, March 11th. StockNews.com cut shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, UBS Group increased their price target on shares of Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and a consensus target price of $170.40.

Crane Trading Down 0.5 %

Shares of CR opened at $141.29 on Monday. Crane has a twelve month low of $127.04 and a twelve month high of $188.52. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $8.11 billion, a P/E ratio of 18.71, a PEG ratio of 1.93 and a beta of 1.31. The firm’s 50-day moving average is $155.12 and its two-hundred day moving average is $160.77.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same period in the previous year, the company posted $0.90 EPS. On average, research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, February 28th. This is an increase from Crane’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. Crane’s payout ratio is 18.18%.

Insider Buying and Selling at Crane

In other news, VP Alejandro Alcala sold 2,293 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the completion of the transaction, the vice president now owns 32,963 shares of the company’s stock, valued at $5,635,354.48. This represents a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crane

Several hedge funds have recently modified their holdings of the stock. Aviva PLC purchased a new position in Crane during the fourth quarter worth approximately $538,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Crane during the 3rd quarter worth $515,000. Raymond James Financial Inc. purchased a new position in shares of Crane in the 4th quarter worth $12,890,000. Rhumbline Advisers boosted its holdings in Crane by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,191 shares of the conglomerate’s stock valued at $20,515,000 after acquiring an additional 2,953 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Crane by 2.7% during the fourth quarter. American Century Companies Inc. now owns 323,272 shares of the conglomerate’s stock valued at $49,057,000 after acquiring an additional 8,552 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

About Crane

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.