Crane Co. (NYSE:CR) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $63.53 and last traded at $63.34, with a volume of 90,904 shares. The stock had previously closed at $63.09.

CR has been the subject of several research reports. Bank of America Corp. upgraded Crane from an “underperform” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Friday, July 29th. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Tuesday, April 19th. Canaccord Genuity boosted their price objective on Crane from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, April 27th. Susquehanna boosted their price objective on Crane to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, April 27th. Finally, Alembic Global Advisors assumed coverage on Crane in a research report on Monday, July 11th. They set a “neutral” rating and a $61.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.25.

The company has a 50 day moving average price of $58.88 and a 200-day moving average price of $54.40. The stock has a market cap of $3.76 billion and a P/E ratio of 15.51.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 25th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.19. The company earned $712.20 million during the quarter, compared to the consensus estimate of $697.13 million. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 earnings per share. On average, analysts forecast that Crane Co. will post $4.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st will be paid a $0.33 dividend. The ex-dividend date is Monday, August 29th. This represents a $1.32 annualized dividend and a dividend yield of 2.05%.

In related news, VP Edward S. Switter sold 6,780 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $56.82, for a total transaction of $385,239.60. Following the sale, the vice president now directly owns 21,633 shares in the company, valued at approximately $1,229,187.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Augustus I. Dupont sold 4,000 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $54.88, for a total value of $219,520.00. Following the sale, the vice president now owns 88,962 shares in the company, valued at $4,882,234.56. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently bought and sold shares of CR. California Public Employees Retirement System increased its position in Crane by 2.7% in the fourth quarter. California Public Employees Retirement System now owns 161,100 shares of the company’s stock valued at $7,707,000 after buying an additional 4,300 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in Crane by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 31,795 shares of the company’s stock valued at $1,521,000 after buying an additional 10,787 shares in the last quarter. Morgan Stanley increased its position in Crane by 41.6% in the fourth quarter. Morgan Stanley now owns 489,048 shares of the company’s stock valued at $23,395,000 after buying an additional 143,628 shares in the last quarter. Marshall Wace LLP purchased a new position in Crane during the fourth quarter valued at about $1,616,000. Finally, Advisors Asset Management Inc. increased its position in Crane by 49.4% in the fourth quarter. Advisors Asset Management Inc. now owns 101,338 shares of the company’s stock valued at $4,848,000 after buying an additional 33,491 shares in the last quarter.

Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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