Crane (CR) Sets New 1-Year High at $91.48
Crane Co. (NYSE:CR) shares hit a new 52-week high during trading on Monday . The company traded as high as $91.48 and last traded at $91.35, with a volume of 280000 shares changing hands. The stock had previously closed at $91.06.
CR has been the topic of a number of analyst reports. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Canaccord Genuity reissued a “buy” rating and set a $95.00 price objective on shares of Crane in a report on Tuesday, December 5th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Bank of America increased their price objective on Crane from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Oppenheimer reissued a “buy” rating on shares of Crane in a report on Tuesday, December 5th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Crane has a consensus rating of “Buy” and an average price target of $93.83.
The company has a market cap of $5,460.00, a P/E ratio of 40.75, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66.
Crane (NYSE:CR) last announced its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The firm had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. During the same quarter in the prior year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. sell-side analysts predict that Crane Co. will post 4.53 earnings per share for the current year.
In other Crane news, Director E Thayer Bigelow sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $82.79, for a total value of $88,336.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $86.28, for a total value of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CR. Schwab Charles Investment Management Inc. lifted its position in shares of Crane by 11.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 317,203 shares of the conglomerate’s stock worth $25,180,000 after acquiring an additional 32,036 shares during the period. Legal & General Group Plc lifted its position in shares of Crane by 7.8% in the 2nd quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock worth $4,288,000 after acquiring an additional 3,894 shares during the period. Utah Retirement Systems lifted its position in shares of Crane by 3.4% in the 2nd quarter. Utah Retirement Systems now owns 9,125 shares of the conglomerate’s stock worth $725,000 after acquiring an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Crane by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after acquiring an additional 140 shares during the period. Finally, Swiss National Bank lifted its position in shares of Crane by 1.9% in the 2nd quarter. Swiss National Bank now owns 78,800 shares of the conglomerate’s stock worth $6,255,000 after acquiring an additional 1,500 shares during the period. Institutional investors own 68.30% of the company’s stock.
Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including 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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