Crane Co. (NYSE:CR) Receives $94.43 Average Target Price from Analysts

Shares of Crane Co. (NYSE:CR) have earned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $94.43.

Several analysts recently weighed in on CR shares. DA Davidson restated a “buy” rating and set a $96.15 target price (down previously from $110.00) on shares of Crane in a research note on Tuesday, July 27th. Bank of America assumed coverage on Crane in a research report on Wednesday, September 8th. They issued a “buy” rating and a $123.00 price objective for the company.

In related news, SVP Kurt F. Gallo sold 5,000 shares of the firm’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $98.01, for a total transaction of $490,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kurt F. Gallo sold 2,500 shares of Crane stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $103.74, for a total value of $259,350.00. Following the completion of the sale, the senior vice president now directly owns 2,500 shares of the company’s stock, valued at $259,350. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock valued at $1,297,468 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CR. FMR LLC grew its stake in shares of Crane by 31.3% during the first quarter. FMR LLC now owns 175,010 shares of the conglomerate’s stock worth $14,809,000 after purchasing an additional 41,673 shares during the period. First Trust Advisors LP grew its stake in shares of Crane by 40.3% during the first quarter. First Trust Advisors LP now owns 10,240 shares of the conglomerate’s stock worth $867,000 after purchasing an additional 2,942 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Crane by 4.2% during the first quarter. Janney Montgomery Scott LLC now owns 3,484 shares of the conglomerate’s stock worth $327,000 after purchasing an additional 142 shares during the period. State of Michigan Retirement System grew its stake in shares of Crane by 1.7% during the first quarter. State of Michigan Retirement System now owns 18,288 shares of the conglomerate’s stock worth $1,717,000 after purchasing an additional 300 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Crane by 8.3% during the first quarter. Envestnet Asset Management Inc. now owns 14,349 shares of the conglomerate’s stock worth $1,348,000 after purchasing an additional 1,105 shares during the period. 70.80% of the stock is owned by institutional investors.

Shares of NYSE:CR opened at $94.92 on Friday. The business has a 50 day moving average price of $96.73 and a 200 day moving average price of $94.58. Crane has a twelve month low of $48.19 and a twelve month high of $104.74. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.81 and a beta of 1.70. The company has a quick ratio of 1.60, a current ratio of 2.20 and a debt-to-equity ratio of 0.49.

Crane (NYSE:CR) last announced its earnings results on Sunday, July 25th. The conglomerate reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.44. Crane had a return on equity of 20.48% and a net margin of 11.33%. The firm had revenue of $796.40 million during the quarter, compared to the consensus estimate of $736.45 million. Analysts anticipate that Crane will post 6.13 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Tuesday, August 31st were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 1.81%. Crane’s dividend payout ratio (DPR) is presently 44.79%.

Crane Company Profile

Crane Co engages in the manufacturing of engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.

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Analyst Recommendations for Crane (NYSE:CR)

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