Brokerages Set Crane Co. (NYSE:CR) Target Price at $98.86

Shares of Crane Co. (NYSE:CR) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $98.86.

Several research firms recently commented on CR. Buckingham Research boosted their price objective on shares of Crane from $97.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. DA Davidson upped their target price on shares of Crane from $105.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group upped their target price on shares of Crane from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, ValuEngine lowered shares of Crane from a “hold” rating to a “sell” rating in a report on Monday, July 29th.

Shares of Crane stock traded up $1.21 on Tuesday, hitting $78.96. The company’s stock had a trading volume of 344,599 shares, compared to its average volume of 311,523. Crane has a 52-week low of $67.18 and a 52-week high of $100.14. The company has a quick ratio of 1.50, a current ratio of 2.17 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $83.30. The stock has a market cap of $4.69 billion, a P/E ratio of 13.18, a P/E/G ratio of 2.02 and a beta of 1.34.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 22nd. The conglomerate reported $1.58 EPS for the quarter, topping the consensus estimate of $1.55 by $0.03. Crane had a net margin of 10.67% and a return on equity of 24.24%. The business had revenue of $841.60 million for the quarter, compared to analyst estimates of $833.30 million. During the same period in the previous year, the firm earned $1.41 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, analysts expect that Crane will post 6.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Saturday, August 31st will be issued a $0.39 dividend. The ex-dividend date is Thursday, August 29th. This represents a $1.56 dividend on an annualized basis and a yield of 1.98%. Crane’s dividend payout ratio (DPR) is 26.04%.

In other news, VP James A. Lavish sold 650 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $86.36, for a total transaction of $56,134.00. Following the transaction, the vice president now directly owns 16,359 shares in the company, valued at approximately $1,412,763.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James L. L Tullis acquired 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $78.13 per share, for a total transaction of $78,130.00. Following the completion of the acquisition, the director now owns 1,110 shares in the company, valued at $86,724.30. The disclosure for this purchase can be found here. 3.39% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CR. Norges Bank purchased a new position in shares of Crane during the 4th quarter worth about $44,701,000. BlackRock Inc. lifted its holdings in shares of Crane by 6.4% during the 1st quarter. BlackRock Inc. now owns 7,610,872 shares of the conglomerate’s stock worth $644,031,000 after acquiring an additional 460,568 shares during the period. Millennium Management LLC purchased a new position in shares of Crane during the 4th quarter worth about $7,367,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Crane by 2,308.7% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 95,265 shares of the conglomerate’s stock worth $8,061,000 after purchasing an additional 91,310 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Crane by 8.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,080,417 shares of the conglomerate’s stock worth $91,425,000 after purchasing an additional 85,550 shares in the last quarter. Institutional investors and hedge funds own 69.61% of the company’s stock.

Crane Company Profile

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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