Crane (NYSE:CR) Price Target Increased to $160.00 by Analysts at DA Davidson

Crane (NYSE:CR) had its target price raised by DA Davidson from $142.00 to $160.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

Several other brokerages have also recently commented on CR. Vertical Research raised shares of Crane from a hold rating to a buy rating in a research report on Wednesday. Bank of America lifted their target price on Crane from $110.00 to $140.00 and gave the company a buy rating in a report on Tuesday, March 5th. StockNews.com downgraded Crane from a buy rating to a hold rating in a report on Friday, April 19th. Finally, Stifel Nicolaus lifted their price objective on Crane from $150.00 to $157.00 and gave the company a buy rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $137.00.

Crane Stock Up 3.0 %

Shares of NYSE CR opened at $142.25 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $130.01 and its two-hundred day moving average is $115.65. Crane has a 52-week low of $67.28 and a 52-week high of $143.67. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be given a dividend of $0.205 per share. The ex-dividend date is Friday, May 31st. This represents a $0.82 annualized dividend and a dividend yield of 0.58%. Crane’s dividend payout ratio is currently 22.22%.

Institutional Trading of Crane

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CR. Fifth Third Bancorp grew its position in shares of Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after buying an additional 99 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Crane by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock valued at $936,000 after acquiring an additional 99 shares in the last quarter. Janney Capital Management LLC grew its holdings in shares of Crane by 3.2% during the fourth quarter. Janney Capital Management LLC now owns 3,560 shares of the conglomerate’s stock worth $421,000 after purchasing an additional 110 shares during the last quarter. Financial Enhancement Group LLC increased its position in shares of Crane by 1.1% during the first quarter. Financial Enhancement Group LLC now owns 11,920 shares of the conglomerate’s stock worth $1,607,000 after purchasing an additional 135 shares in the last quarter. Finally, Ronald Blue Trust Inc. boosted its position in shares of Crane by 99.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

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.