Crane Company (NYSE:CR)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity in a research report issued to clients and investors on Friday, November 3rd.
A number of other research analysts have also recently weighed in on the stock. Bank of America Corporation boosted their price objective on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Monday, July 17th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Wolfe Research assumed coverage on shares of Crane in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Scotiabank reaffirmed a “buy” rating on shares of Crane in a research note on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $92.14.
Shares of Crane (CR) opened at $82.50 on Friday. Crane has a 1 year low of $67.62 and a 1 year high of $86.67. The stock has a market cap of $4,906.46, a P/E ratio of 18.92, a PEG ratio of 1.81 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, topping the 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 company had revenue of $695.90 million for the quarter, compared to analysts’ expectations of $679.77 million. During the same quarter in the previous year, the business posted $1.07 earnings per share. Crane’s quarterly revenue was up .2% on a year-over-year basis. sell-side analysts expect that Crane will post 4.53 EPS for the current year.
In other news, VP Augustus I. Dupont sold 11,130 shares of the 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 owns 84,116 shares in the company, valued at approximately $7,257,528.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director E Thayer Bigelow sold 6,000 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,403 shares of company stock worth $2,693,998. Insiders own 3.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CR. Legal & General Group Plc increased its position in shares of Crane by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock worth $4,288,000 after purchasing an additional 3,894 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Crane by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock worth $51,002,000 after purchasing an additional 11,670 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Crane by 23.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock worth $46,237,000 after purchasing an additional 111,581 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Crane during the 2nd quarter worth about $204,000. Finally, American Century Companies Inc. increased its position in shares of Crane by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 98,750 shares of the conglomerate’s stock worth $7,839,000 after purchasing an additional 29,150 shares during the last quarter. 68.91% of the stock is owned by institutional investors and hedge funds.
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.
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