Crane Co. (CR) Sets New 12-Month High at $65.59
Shares of Crane Co. (NYSE:CR) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $65.59 and last traded at $65.45, with a volume of 169,270 shares trading hands. The stock had previously closed at $64.84.
A number of analysts have recently issued reports on the company. Credit Suisse Group AG restated a “hold” rating on shares of Crane in a research report on Friday, August 5th. RBC Capital Markets restated a “sector perform” rating and set a $63.00 price objective (up from $57.00) on shares of Crane in a research report on Wednesday, July 27th. Bank of America Corp. upgraded Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research report on Friday, July 29th. Zacks Investment Research upgraded Crane from a “sell” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday, July 27th. Finally, Royal Bank Of Canada upped their price target on Crane from $57.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 27th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Crane has an average rating of “Hold” and a consensus price target of $62.25.
The stock’s 50-day moving average is $59.22 and its 200 day moving average is $54.85. The stock has a market cap of $3.81 billion and a price-to-earnings ratio of 15.67.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 25th. The company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.19. The firm had revenue of $712.20 million for the quarter, compared to analyst estimates of $697.13 million. During the same period in the previous year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts forecast that Crane Co. will post $4.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, August 29th. This represents a $1.32 annualized dividend and a yield of 2.04%.
In other Crane news, VP Augustus I. Dupont sold 4,000 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $54.88, for a total transaction of $219,520.00. Following the transaction, the vice president now owns 88,962 shares in the company, valued at approximately $4,882,234.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Edward S. Switter sold 6,780 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $56.82, for a total value of $385,239.60. Following the transaction, the vice president now owns 21,633 shares in the company, valued at approximately $1,229,187.06. The disclosure for this sale can be found here.
A number of institutional investors recently bought and sold shares of the company. US Bancorp DE raised its position in Crane by 10.2% in the fourth quarter. US Bancorp DE now owns 24,557 shares of the company’s stock worth $1,175,000 after buying an additional 2,269 shares during the period. Liberty Mutual Group Asset Management Inc. raised 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 worth $1,521,000 after buying an additional 10,787 shares during the period. Marshall Wace LLP bought a new position in Crane during the fourth quarter worth approximately $1,616,000. Broadview Advisors LLC bought a new position in Crane during the fourth quarter worth approximately $2,055,000. Finally, KBC Group NV raised its position in Crane by 16.6% in the fourth quarter. KBC Group NV now owns 88,624 shares of the company’s stock worth $4,240,000 after buying an additional 12,592 shares during the period.
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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