Brokerages Set Crane (NYSE:CR) Price Target at $167.00

Shares of Crane (NYSE:CR) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $167.00.

CR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus cut shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research note on Monday, November 18th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Select Equity Group L.P. bought a new stake in shares of Crane during the second quarter worth $21,159,000. Hantz Financial Services Inc. acquired a new stake in shares of Crane during the 2nd quarter worth approximately $16,205,000. Point72 Asset Management L.P. bought a new stake in shares of Crane during the third quarter worth approximately $17,062,000. Massachusetts Financial Services Co. MA lifted its holdings in Crane by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock valued at $103,748,000 after buying an additional 91,029 shares during the period. Finally, American Century Companies Inc. boosted its stake in Crane by 673.2% in the second quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock valued at $11,913,000 after acquiring an additional 71,544 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Stock Up 0.2 %

CR stock opened at $152.80 on Thursday. The firm has a market cap of $8.75 billion, a PE ratio of 20.24, a PEG ratio of 1.93 and a beta of 0.93. Crane has a 1 year low of $110.49 and a 1 year high of $188.52. The company has a fifty day simple moving average of $168.14 and a 200 day simple moving average of $156.20. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Sell-side analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a dividend of $0.205 per share. The ex-dividend date was Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.54%. Crane’s dividend payout ratio is 18.06%.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.