Crane (NYSE:CR) Receives $120.00 Consensus PT from Brokerages

Crane (NYSE:CR) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $120.00.

CR has been the topic of several research analyst reports. StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Bank of America lifted their price target on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus lifted their price target on Crane from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd.

Crane Stock Performance

NYSE:CR opened at $131.19 on Friday. The stock’s 50-day simple moving average is $129.24 and its 200 day simple moving average is $113.78. The firm has a market capitalization of $7.49 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $67.28 and a twelve month high of $139.34.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, January 29th. The conglomerate reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. The business had revenue of $532.90 million for the quarter, compared to analyst estimates of $519.55 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. On average, analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were paid a $0.205 dividend. This is a positive change from Crane’s previous quarterly dividend of $0.18. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, February 28th. Crane’s payout ratio is currently 22.22%.

Hedge Funds Weigh In On Crane

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Crane by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,853 shares of the conglomerate’s stock worth $1,608,000 after purchasing an additional 1,104 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Crane by 3.0% during the first quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate’s stock valued at $1,129,000 after acquiring an additional 299 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Crane by 82.1% during the first quarter. HighTower Advisors LLC now owns 4,102 shares of the conglomerate’s stock valued at $445,000 after acquiring an additional 1,849 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Crane by 4.7% during the first quarter. Citigroup Inc. now owns 7,856 shares of the conglomerate’s stock valued at $851,000 after acquiring an additional 355 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Crane by 1.1% during the first quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock valued at $1,408,000 after acquiring an additional 136 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

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.