Crane (NYSE:CR) Reaches New 1-Year High at $146.52

Shares of Crane (NYSE:CR) hit 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 Ratings Changes

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

Crane Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $8.30 billion, a PE ratio of 38.77, a P/E/G ratio of 1.93 and a beta of 1.49. The firm’s 50-day moving average price is $133.68 and its two-hundred day moving average price is $119.13.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $565.30 million during the quarter, compared to analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $1.25 EPS. As a group, research analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

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 paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, May 30th. Crane’s dividend payout ratio (DPR) is currently 21.98%.

Institutional Investors Weigh In On Crane

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Crane by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Crane during the 4th quarter valued at about $90,000. Jump Financial LLC bought a new position in shares of Crane in the 3rd quarter valued at approximately $201,000. Claret Asset Management Corp acquired a new stake in Crane in the 4th quarter worth approximately $201,000. Finally, Raymond James Trust N.A. bought a new stake in Crane during the fourth quarter worth approximately $203,000. 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.