Crane (NYSE:CR) Earns “Buy” Rating from Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Crane (NYSE:CR) in a report published on Tuesday, December 5th. They currently have a $95.00 target price on the conglomerate’s stock.

A number of other equities research analysts have also commented on CR. Scotiabank reaffirmed a buy rating on shares of Crane in a research note on Tuesday, October 10th. Bank of America increased their target price on shares of Crane from $90.00 to $104.00 and gave the stock a buy rating in a research note on Wednesday, October 25th. Seaport Global Securities upgraded shares of Crane from a neutral rating to a buy rating and upped their price objective for the stock from $78.00 to $95.00 in a report on Thursday, October 26th. Oppenheimer restated a buy rating and set a $92.00 price objective (up previously from $88.00) on shares of Crane in a report on Wednesday, October 25th. Finally, Stifel Nicolaus upped their price objective on shares of Crane from $85.00 to $87.00 and gave the stock a hold rating in a report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Crane presently has a consensus rating of Buy and an average target price of $93.83.

Shares of Crane (NYSE CR) traded down $0.10 during mid-day trading on Tuesday, hitting $89.22. 144,042 shares of the company traded hands, compared to its average volume of 292,155. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. The company has a market cap of $5,320.00, a P/E ratio of 39.83, a price-to-earnings-growth ratio of 1.95 and a beta of 1.17. Crane has a 1-year low of $67.62 and a 1-year high of $90.71.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The business had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. During the same period in the prior year, the company earned $1.07 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. equities research analysts anticipate that Crane will post 4.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Thursday, November 30th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.48%. Crane’s dividend payout ratio is presently 58.93%.

In other Crane news, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total transaction of $162,880.00. Following the completion of the sale, the director now directly owns 2,110 shares in the company, valued at $171,838.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Augustus I. Dupont sold 11,130 shares of Crane stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the transaction, the vice president now directly owns 84,116 shares in the company, valued at $7,257,528.48. The disclosure for this sale can be found here. Insiders sold 22,403 shares of company stock valued at $1,896,288 over the last 90 days. 3.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its holdings in Crane by 33.3% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after acquiring an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after acquiring an additional 140 shares in the last quarter. Global X Management Co. LLC boosted its holdings in Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock valued at $148,000 after acquiring an additional 1,282 shares in the last quarter. Howe & Rusling Inc. boosted its holdings in Crane by 88.5% in the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after acquiring an additional 1,057 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its holdings in Crane by 54.2% in the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 800 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors.

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Crane Company Profile

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.

Analyst Recommendations for Crane (NYSE:CR)

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