Crane (NYSE:CR) Sets New 1-Year High – Time to Buy?

Crane (NYSE:CR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $162.35 and last traded at $162.35, with a volume of 218744 shares changing hands. The stock had previously closed at $158.67.

Analyst Upgrades and Downgrades

CR has been the subject of several recent analyst reports. Stifel Nicolaus increased their target price on shares of Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.17.

Crane Trading Up 0.3 %

The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 42.52, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The business’s fifty day moving average is $152.51 and its 200 day moving average is $146.95. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.06. The firm had revenue of $581.00 million for the quarter, compared to the consensus estimate of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. Equities analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, August 30th. Crane’s dividend payout ratio (DPR) is currently 21.98%.

Institutional Investors Weigh In On Crane

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning boosted its stake in shares of Crane by 17.6% during the 3rd quarter. Creative Planning now owns 14,983 shares of the conglomerate’s stock worth $2,372,000 after buying an additional 2,247 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Crane during the third quarter worth about $30,000. Ritholtz Wealth Management boosted its position in Crane by 5.5% during the third quarter. Ritholtz Wealth Management now owns 6,710 shares of the conglomerate’s stock valued at $1,062,000 after purchasing an additional 349 shares during the last quarter. DLK Investment Management LLC bought a new position in Crane in the third quarter valued at approximately $895,000. Finally, Matrix Trust Co acquired a new position in shares of Crane during the 3rd quarter worth approximately $25,000. 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.