Crane (NYSE:CR) PT Raised to $102.00 at Buckingham Research

Crane (NYSE:CR) had its price target hoisted by Buckingham Research from $97.00 to $102.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Buckingham Research currently has a buy rating on the conglomerate’s stock.

Several other brokerages have also recently issued reports on CR. UBS Group reissued a buy rating and issued a $70.00 target price on shares of Lumentum in a research report on Thursday, April 11th. Zacks Investment Research cut Inflarx from a buy rating to a hold rating in a research report on Friday, May 3rd. Finally, DA Davidson raised their target price on Crane from $105.00 to $107.00 and gave the stock a buy rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Crane currently has an average rating of Buy and a consensus target price of $95.88.

NYSE CR traded down $0.07 during trading hours on Wednesday, hitting $86.32. The company’s stock had a trading volume of 28,058 shares, compared to its average volume of 352,578. Crane has a 12 month low of $67.18 and a 12 month high of $100.14. The stock has a 50 day moving average price of $82.47. The company has a market capitalization of $5.32 billion, a P/E ratio of 14.43, a P/E/G ratio of 2.22 and a beta of 1.36. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.17.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 22nd. The conglomerate reported $1.58 EPS for the quarter, topping the consensus estimate of $1.55 by $0.03. Crane had a return on equity of 24.24% and a net margin of 10.67%. The company had revenue of $841.60 million during the quarter, compared to the consensus estimate of $833.30 million. During the same period last year, the company earned $1.41 EPS. Crane’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts predict that Crane will post 6.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Saturday, August 31st will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.81%. Crane’s payout ratio is currently 26.04%.

In related news, Director James L. L Tullis acquired 1,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $78.13 per share, with a total value of $78,130.00. Following the transaction, the director now directly owns 1,110 shares in the company, valued at $86,724.30. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.39% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its stake in Crane by 5.7% during the fourth quarter. LPL Financial LLC now owns 3,662 shares of the conglomerate’s stock worth $264,000 after acquiring an additional 197 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Crane by 6.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,633 shares of the conglomerate’s stock worth $478,000 after acquiring an additional 385 shares during the last quarter. Geode Capital Management LLC increased its stake in Crane by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 493,972 shares of the conglomerate’s stock worth $35,654,000 after acquiring an additional 18,836 shares during the last quarter. Two Sigma Advisers LP increased its stake in Crane by 21.6% during the fourth quarter. Two Sigma Advisers LP now owns 97,273 shares of the conglomerate’s stock worth $7,021,000 after acquiring an additional 17,278 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Crane by 790.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 19,867 shares of the conglomerate’s stock worth $1,434,000 after acquiring an additional 17,637 shares during the last quarter. 69.56% of the stock is currently owned by institutional investors and hedge funds.

About Crane

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Analyst Recommendations for Crane (NYSE:CR)

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