Crane (NYSE:CR) Given New $175.00 Price Target at Stifel Nicolaus

by · The Cerbat Gem

Crane (NYSE:CR – Free Report) had its price objective increased by Stifel Nicolaus from $168.00 to $175.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

Separately, Deutsche Bank Aktiengesellschaft lifted their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $157.33.

Read Our Latest Analysis on CR

Crane Stock Performance

Shares of NYSE:CR opened at $161.41 on Wednesday. The stock has a market capitalization of $9.23 billion, a P/E ratio of 43.27, a P/E/G ratio of 1.93 and a beta of 0.77. 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 has a 1-year low of $82.57 and a 1-year high of $163.39. The business has a 50-day moving average price of $153.19 and a two-hundred day moving average price of $147.21.

Crane (NYSE:CR – Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $568.33 million. During the same period in the previous year, the firm posted $1.10 earnings per share. Crane’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.82 annualized dividend and a yield of 0.51%. Crane’s dividend payout ratio is presently 21.98%.

Institutional Investors Weigh In On Crane

A number of hedge funds have recently modified their holdings of CR. Matrix Trust Co acquired a new stake in Crane during the 3rd quarter worth approximately $25,000. Covestor Ltd raised its stake in shares of Crane by 150.6% in the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 131 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Crane in the third quarter valued at about $30,000. ORG Partners LLC acquired a new position in shares of Crane during the second quarter worth about $31,000. Finally, UMB Bank n.a. raised its position in Crane by 81.8% in the 3rd quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Crane Company Profile

(Get Free Report)

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.

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