Crane (NYSE:CR) Receives $157.33 Average Price Target from Brokerages

Shares of Crane (NYSE:CR) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $157.33.

CR has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd.

Institutional Investors Weigh In On Crane

A number of institutional investors have recently modified their holdings of CR. Verdence Capital Advisors LLC bought a new position in shares of Crane during the third quarter valued at $208,000. Consolidated Planning Corp bought a new position in Crane in the third quarter valued at about $211,000. Radnor Capital Management LLC bought a new position in Crane in the third quarter valued at about $1,897,000. Van ECK Associates Corp lifted its holdings in Crane by 40.0% in the third quarter. Van ECK Associates Corp now owns 30,296 shares of the conglomerate’s stock valued at $4,599,000 after acquiring an additional 8,658 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Crane by 3.6% in the third quarter. State of Alaska Department of Revenue now owns 11,071 shares of the conglomerate’s stock valued at $1,751,000 after acquiring an additional 380 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Stock Performance

NYSE:CR opened at $157.47 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. Crane has a 1-year low of $98.06 and a 1-year high of $163.48. The business has a 50 day moving average of $154.75 and a 200 day moving average of $148.91. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.52%. Crane’s dividend payout ratio is currently 18.06%.

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.