Crane Co. (CR) Hits New 52-Week High at $65.59
Crane Co. (NYSE:CR)’s share price hit a new 52-week high on Wednesday . The company traded as high as $65.59 and last traded at $65.45, with a volume of 169,270 shares. The stock had previously closed at $64.84.
CR has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Friday, April 29th. Susquehanna boosted their target price on shares of Crane to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 27th. Royal Bank Of Canada boosted their target price on shares of Crane from $48.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 27th. Topeka Capital Markets began coverage on shares of Crane in a research report on Thursday, May 26th. They set a “buy” rating and a $62.00 price target for the company. Finally, Canaccord Genuity lifted their price target on shares of Crane from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, April 27th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.25.
The stock has a market capitalization of $3.79 billion and a PE ratio of 15.58. The stock’s 50-day moving average price is $59.60 and its 200 day moving average price is $55.00.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $1.06 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Crane Co. will post $4.17 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.03%.
In other news, VP A D. Pantaleoni sold 5,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total value of $313,700.00. Following the completion of the transaction, the vice president now owns 9,876 shares of the company’s stock, valued at $619,620.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas J. Craney sold 3,915 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $64.54, for a total transaction of $252,674.10. Following the completion of the transaction, the insider now directly owns 20,062 shares of the company’s stock, valued at approximately $1,294,801.48. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. US Bancorp DE boosted 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. 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. KBC Group NV boosted 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. Finally, Advisors Asset Management Inc. boosted 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 worth $4,848,000 after buying an additional 33,491 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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