Brokerages Set Crane (NYSE:CR) Target Price at $145.50

Crane (NYSE:CR) has been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $145.50.

CR has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. UBS Group upped their price target on Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. StockNews.com raised Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Finally, Bank of America upped their price target on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th.

Institutional Investors Weigh In On Crane

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Crane by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 430,543 shares of the conglomerate’s stock worth $62,420,000 after acquiring an additional 4,276 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Crane by 108.8% in the second quarter. Retirement Systems of Alabama now owns 128,104 shares of the conglomerate’s stock worth $18,573,000 after acquiring an additional 66,747 shares in the last quarter. JB Capital LLC bought a new stake in shares of Crane in the second quarter worth about $537,000. SummerHaven Investment Management LLC increased its holdings in shares of Crane by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock worth $1,176,000 after acquiring an additional 104 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Crane in the second quarter worth about $241,000. 75.14% of the stock is currently owned by institutional investors.

Crane Price Performance

Crane stock opened at $158.87 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market cap of $9.08 billion, a P/E ratio of 42.59, a P/E/G ratio of 1.93 and a beta of 0.80. The business’s fifty day moving average is $146.37 and its two-hundred day moving average is $135.74. Crane has a 52 week low of $82.57 and a 52 week high of $160.39.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, August 30th. Crane’s payout ratio is 21.98%.

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.