Buckingham Research Boosts Crane (CR) Price Target to $102.00

Crane (NYSE:CR) had its price objective raised by Buckingham Research from $101.00 to $102.00 in a research report report published on Tuesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the conglomerate’s stock.

CR has been the subject of a number of other research reports. Seaport Global Securities reiterated a buy rating and issued a $105.00 price target on shares of Crane in a research note on Wednesday, January 30th. William Blair cut shares of Crane from an outperform rating to a market perform rating and set a $79.14 price target for the company. in a research note on Tuesday, January 29th. They noted that the move was a valuation call. Stifel Nicolaus set a $100.00 price target on shares of Crane and gave the company a buy rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded shares of Crane from a sell rating to a hold rating in a research note on Thursday, January 24th. Finally, GMP Securities reiterated a hold rating on shares of Crane in a research note on Thursday, February 14th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Crane presently has an average rating of Buy and an average target price of $96.45.

Shares of CR opened at $85.00 on Tuesday. Crane has a 12 month low of $67.18 and a 12 month high of $100.14. The firm has a market cap of $5.17 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.35. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Crane (NYSE:CR) last announced its earnings results on Monday, April 29th. The conglomerate reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.06. Crane had a net margin of 10.34% and a return on equity of 24.49%. The business had revenue of $831.70 million during the quarter, compared to analysts’ expectations of $792.39 million. During the same quarter in the prior year, the company posted $1.31 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts predict that Crane will post 6.4 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, May 30th. Crane’s dividend payout ratio is presently 26.04%.

In other news, VP James A. Lavish sold 5,150 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $84.94, for a total transaction of $437,441.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Louis V. Pinkham sold 55,103 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $85.03, for a total transaction of $4,685,408.09. The disclosure for this sale can be found here. Company insiders own 3.39% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Crane by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 327,019 shares of the conglomerate’s stock worth $32,162,000 after acquiring an additional 4,442 shares during the period. Teachers Advisors LLC increased its position in Crane by 8.8% during the third quarter. Teachers Advisors LLC now owns 451,444 shares of the conglomerate’s stock worth $44,400,000 after acquiring an additional 36,681 shares during the period. Nordea Investment Management AB increased its position in Crane by 250.2% during the third quarter. Nordea Investment Management AB now owns 185,258 shares of the conglomerate’s stock worth $18,220,000 after acquiring an additional 132,354 shares during the period. Vanguard Group Inc increased its position in Crane by 1.0% during the third quarter. Vanguard Group Inc now owns 4,426,179 shares of the conglomerate’s stock worth $435,315,000 after acquiring an additional 41,941 shares during the period. Finally, Virtu Financial LLC bought a new position in Crane during the fourth quarter worth about $482,000. Institutional investors own 69.16% of the company’s stock.

About Crane

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Analyst Recommendations for Crane (NYSE:CR)

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