Crane (NYSE:CR) Receives $106.00 Consensus PT from Analysts

Crane (NYSE:CR – Get Rating) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $106.00.

CR has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Crane in a research note on Sunday, May 21st. They set a “buy” rating for the company. DA Davidson raised their price target on shares of Crane from $90.00 to $92.00 in a report on Friday, May 12th. Finally, UBS Group dropped their price target on shares of Crane from $120.00 to $82.00 and set a “neutral” rating on the stock in a report on Wednesday, April 5th.

Crane Stock Down 0.2 %

Shares of Crane stock opened at $75.48 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company has a 50-day moving average of $83.38 and a 200 day moving average of $100.32. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.93 and a beta of 1.49. Crane has a 1 year low of $67.28 and a 1 year high of $83.00.

Crane Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Wednesday, May 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.95%. The ex-dividend date is Tuesday, May 30th. Crane’s dividend payout ratio is currently 9.54%.

Insider Activity at Crane

In other Crane news, VP Edward S. Switter sold 49,409 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $119.88, for a total value of $5,923,150.92. Following the completion of the sale, the vice president now owns 25,174 shares in the company, valued at $3,017,859.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Crane news, CEO Max H. Mitchell sold 37,495 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $76.48, for a total value of $2,867,617.60. Following the completion of the transaction, the chief executive officer now owns 322,628 shares in the company, valued at $24,674,589.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Edward S. Switter sold 49,409 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $119.88, for a total value of $5,923,150.92. Following the completion of the transaction, the vice president now owns 25,174 shares of the company’s stock, valued at approximately $3,017,859.12. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Crane

Hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in Crane by 2.5% during the 1st quarter. FMR LLC now owns 6,462,324 shares of the conglomerate’s stock valued at $733,474,000 after acquiring an additional 158,787 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Crane by 1.3% in the third quarter. Vanguard Group Inc. now owns 4,472,630 shares of the conglomerate’s stock worth $391,534,000 after buying an additional 56,773 shares during the last quarter. BlackRock Inc. lifted its position in shares of Crane by 1.2% in the first quarter. BlackRock Inc. now owns 4,071,875 shares of the conglomerate’s stock worth $462,158,000 after buying an additional 46,506 shares during the last quarter. LSV Asset Management lifted its position in shares of Crane by 0.6% during the 3rd quarter. LSV Asset Management now owns 1,629,882 shares of the conglomerate’s stock worth $142,680,000 after purchasing an additional 10,127 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Crane by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,491,577 shares of the conglomerate’s stock worth $161,508,000 after purchasing an additional 12,017 shares during the last quarter. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

Crane Company Profile

(Get Rating)

Crane Holdings Co engages in the management of a subsidiary, which manufacture aerospace equipment, electronics systems, and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.