Crane (NYSE:CR) Reaches New 12-Month High at $146.52

Crane (NYSE:CR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $146.52 and last traded at $146.52, with a volume of 95434 shares traded. The stock had previously closed at $144.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CR shares. StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Stifel Nicolaus lifted their price target on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Bank of America raised their price objective on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, DA Davidson increased their price target on shares of Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.00.

Crane Trading Up 0.4 %

The company has a fifty day moving average of $133.68 and a 200-day moving average of $119.13. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 1.93 and a beta of 1.49. 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 earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, equities research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, May 30th. Crane’s payout ratio is currently 21.98%.

Institutional Investors Weigh In On Crane

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock valued at $578,282,000 after purchasing an additional 16,167 shares during the period. Capital World Investors raised its holdings in Crane by 4.0% in the 4th quarter. Capital World Investors now owns 2,095,540 shares of the conglomerate’s stock valued at $247,567,000 after buying an additional 79,710 shares during the period. Congress Asset Management Co. MA lifted its position in Crane by 0.5% in the fourth quarter. Congress Asset Management Co. MA now owns 1,322,850 shares of the conglomerate’s stock valued at $156,282,000 after buying an additional 6,605 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Crane by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 742,252 shares of the conglomerate’s stock worth $87,690,000 after buying an additional 37,388 shares during the period. Finally, Capital International Investors increased its position in shares of Crane by 44.7% during the fourth quarter. Capital International Investors now owns 663,221 shares of the conglomerate’s stock valued at $78,353,000 after acquiring an additional 204,924 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

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.