Crane Holdings, Co. (NYSE:CR – Get Rating) announced a quarterly dividend on Monday, January 23rd, Zacks reports. Stockholders of record on Tuesday, February 28th will be given a dividend of 0.47 per share by the conglomerate on Wednesday, March 8th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, February 27th.
Crane has increased its dividend by an average of 14.6% annually over the last three years and has raised its dividend every year for the last 1 years. Crane has a dividend payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Crane to earn $8.56 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 22.0%.
Crane Trading Up 0.0 %
CR stock opened at $115.52 on Wednesday. The company has a market cap of $6.49 billion, a P/E ratio of 16.74, a PEG ratio of 1.45 and a beta of 1.51. Crane has a twelve month low of $82.14 and a twelve month high of $116.11. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $103.55 and a 200-day moving average of $99.03.
Insider Activity at Crane
In related news, CFO Richard A. Maue sold 5,907 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $104.31, for a total transaction of $616,159.17. Following the completion of the transaction, the chief financial officer now directly owns 79,147 shares of the company’s stock, valued at $8,255,823.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Alejandro Alcala sold 25,649 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $104.38, for a total value of $2,677,242.62. Following the completion of the sale, the senior vice president now directly owns 22,177 shares of the company’s stock, valued at $2,314,835.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard A. Maue sold 5,907 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $104.31, for a total value of $616,159.17. Following the completion of the sale, the chief financial officer now directly owns 79,147 shares of the company’s stock, valued at $8,255,823.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,409 shares of company stock valued at $15,809,162. Insiders own 2.40% of the company’s stock.
Institutional Trading of Crane
A number of hedge funds have recently made changes to their positions in CR. Vanguard Group Inc. increased its stake in shares of Crane by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,472,630 shares of the conglomerate’s stock worth $391,534,000 after purchasing an additional 56,773 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Crane by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 1,491,577 shares of the conglomerate’s stock worth $161,508,000 after purchasing an additional 12,017 shares during the period. State Street Corp increased its stake in shares of Crane by 3.9% during the first quarter. State Street Corp now owns 1,382,235 shares of the conglomerate’s stock worth $149,668,000 after purchasing an additional 51,792 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Crane by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 661,094 shares of the conglomerate’s stock worth $71,586,000 after purchasing an additional 32,515 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Crane by 10.8% during the first quarter. Invesco Ltd. now owns 656,264 shares of the conglomerate’s stock worth $71,060,000 after purchasing an additional 63,832 shares during the period. 70.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have issued reports on CR. TheStreet upgraded Crane from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. Stifel Nicolaus lowered their price target on Crane from $123.00 to $121.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Morgan Stanley upgraded Crane from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $116.00 to $129.00 in a report on Monday, December 12th. StockNews.com cut Crane from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 26th. Finally, DA Davidson upped their price objective on Crane from $130.00 to $140.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $128.75.
Crane Company Profile
Crane Holdings Co engages in the management of a subsidiary, which manufacture aerospace equipment, electronics systems, and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.
- Get a free copy of the StockNews.com research report on Crane (CR)
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