Crane Holdings, Co. (NYSE:CR) Declares Quarterly Dividend of $0.47

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.

Crane (NYSE:CR – Get Rating) last released its quarterly earnings data on Monday, January 23rd. The conglomerate reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. The business had revenue of $824.10 million during the quarter, compared to the consensus estimate of $819.89 million. Crane had a return on equity of 24.93% and a net margin of 13.10%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts expect that Crane will post 8.13 EPS for the current year.

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

(Get Rating)

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.