Crane (NYSE:CR) Sets New 12-Month High – Here’s Why

Crane (NYSE:CR) hit a new 52-week high on Monday . The company traded as high as $178.90 and last traded at $178.90, with a volume of 399 shares. The stock had previously closed at $176.00.

Analysts Set New Price Targets

Several research analysts have recently commented on CR shares. Stifel Nicolaus boosted their price objective on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Crane has a consensus rating of “Moderate Buy” and a consensus target price of $157.33.

Crane Stock Down 1.0 %

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 stock has a 50-day moving average of $157.22 and a two-hundred day moving average of $150.81. The company has a market cap of $10.13 billion, a P/E ratio of 38.99, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last released its earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating the consensus estimate of $1.32 by $0.06. The company had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. On average, research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s dividend payout ratio is presently 18.06%.

Hedge Funds Weigh In On Crane

Large investors have recently bought and sold shares of the stock. Griffin Asset Management Inc. grew its holdings in shares of Crane by 0.3% in the third quarter. Griffin Asset Management Inc. now owns 34,038 shares of the conglomerate’s stock worth $5,388,000 after purchasing an additional 90 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Crane by 2.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock worth $529,000 after acquiring an additional 94 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Crane by 81.8% during the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 99 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Crane by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 8,112 shares of the conglomerate’s stock worth $1,176,000 after purchasing an additional 104 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Crane by 29.9% in the second quarter. Blue Trust Inc. now owns 487 shares of the conglomerate’s stock worth $66,000 after purchasing an additional 112 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

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.