Crane’s (CR) Buy Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Crane (NYSE:CR) in a research report sent to investors on Tuesday. They currently have a $95.00 price objective on the conglomerate’s stock.

CR has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Crane from a buy rating to a hold rating in a report on Tuesday, October 3rd. Boenning Scattergood reissued a hold rating on shares of Crane in a report on Monday, October 2nd. Wolfe Research downgraded shares of Crane from an outperform rating to a market perform rating in a report on Wednesday, October 25th. Royal Bank Of Canada reissued a hold rating on shares of Crane in a report on Monday, September 25th. Finally, ValuEngine raised shares of Crane from a hold rating to a buy rating in a report on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $93.83.

Shares of Crane (NYSE CR) traded down $1.36 during mid-day trading on Tuesday, hitting $82.54. 239,900 shares of the company traded hands, compared to its average volume of 315,428. The company has a market cap of $4,979.46, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. Crane has a 1-year low of $67.62 and a 1-year high of $86.67.

Crane (NYSE:CR) last announced its earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $695.90 million during the quarter, compared to the consensus estimate of $679.77 million. Crane had a net margin of 4.96% and a return on equity of 20.70%. Crane’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. equities research analysts anticipate that Crane will post 4.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s dividend payout ratio (DPR) is presently 59.19%.

In related news, VP Augustus I. Dupont sold 11,130 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $86.28, for a total transaction of $960,296.40. Following the completion of the transaction, the vice president now directly owns 84,116 shares in the company, valued at approximately $7,257,528.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP A D. Pantaleoni sold 4,650 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $83.11, for a total transaction of $386,461.50. Following the transaction, the vice president now owns 1,076 shares of the company’s stock, valued at $89,426.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CR. Principal Financial Group Inc. increased its position in Crane by 115.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after purchasing an additional 682,934 shares in the last quarter. Prudential Financial Inc. increased its position in Crane by 69.0% in the 2nd quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock valued at $50,807,000 after acquiring an additional 261,354 shares during the period. SG Americas Securities LLC increased its position in Crane by 1,866.9% in the 2nd quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock valued at $21,834,000 after acquiring an additional 261,072 shares during the period. Victory Capital Management Inc. increased its position in Crane by 50.8% in the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock valued at $53,033,000 after acquiring an additional 223,225 shares during the period. Finally, FMR LLC increased its position in Crane by 338.8% in the 2nd quarter. FMR LLC now owns 202,628 shares of the conglomerate’s stock valued at $16,085,000 after acquiring an additional 156,454 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

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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.

Analyst Recommendations for Crane (NYSE:CR)

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