Crane Co. (CR) Hits New 1-Year High at $65.86
Crane Co. (NYSE:CR) shares reached a new 52-week high on Tuesday . The company traded as high as $65.86 and last traded at $65.64, with a volume of 80,527 shares changing hands. The stock had previously closed at $64.87.
A number of brokerages recently issued reports on CR. Royal Bank Of Canada raised their price target on Crane from $48.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 27th. Susquehanna raised their price target on Crane to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 27th. Canaccord Genuity raised their price target on Crane from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, April 27th. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Finally, Topeka Capital Markets began coverage on Crane in a research report on Thursday, May 26th. They issued a “buy” rating and a $62.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Crane presently has an average rating of “Hold” and a consensus target price of $62.00.
The stock has a market cap of $3.79 billion and a PE ratio of 15.59. The company’s 50-day moving average is $61.62 and its 200 day moving average is $56.22.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.19. During the same period last year, the company earned $1.06 EPS. The business earned $712.20 million during the quarter, compared to analyst estimates of $697.13 million. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts forecast that Crane Co. will post $4.17 EPS for the current year.
The firm also recently declared 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. This represents a $1.32 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, August 29th.
In related news, VP A D. Pantaleoni sold 5,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $62.74, for a total transaction of $313,700.00. Following the transaction, the vice president now owns 9,876 shares of the company’s stock, valued at approximately $619,620.24. The transaction was disclosed in a filing with the SEC, which is available 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 value of $252,674.10. Following the transaction, the insider now directly owns 20,062 shares in the company, valued at approximately $1,294,801.48. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of CR. US Bancorp DE raised its stake 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 in the last quarter. Marshall Wace LLP bought a new stake in Crane during the fourth quarter worth about $1,616,000. Finally, KBC Group NV raised its stake 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 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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