Crane (NYSE:CR) Reaches New 12-Month High at $135.90

Shares of Crane (NYSE:CR) hit a new 52-week high during trading on Wednesday . The stock traded as high as $135.90 and last traded at $134.60, with a volume of 5127 shares trading hands. The stock had previously closed at $133.90.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Stifel Nicolaus raised their price objective on shares of Crane from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, StockNews.com raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and a consensus target price of $113.67.

Crane Stock Up 0.8 %

The company has a market capitalization of $7.71 billion, a PE ratio of 36.29, a PEG ratio of 1.93 and a beta of 1.49. The company’s 50 day moving average is $124.44 and its two-hundred day moving average is $108.93. 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 issued its quarterly earnings data on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $532.90 million during the quarter, compared to analysts’ expectations of $519.55 million. On average, analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a $0.205 dividend. This is a boost from Crane’s previous quarterly dividend of $0.18. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Wednesday, February 28th. Crane’s dividend payout ratio (DPR) is presently 22.22%.

Hedge Funds Weigh In On Crane

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Crane by 8.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,853 shares of the conglomerate’s stock worth $1,608,000 after purchasing an additional 1,104 shares during the period. American Century Companies Inc. boosted its stake in shares of Crane by 3.0% during the 1st quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate’s stock worth $1,129,000 after purchasing an additional 299 shares during the period. HighTower Advisors LLC boosted its stake in shares of Crane by 82.1% during the 1st quarter. HighTower Advisors LLC now owns 4,102 shares of the conglomerate’s stock worth $445,000 after purchasing an additional 1,849 shares during the period. Citigroup Inc. boosted its stake in shares of Crane by 4.7% during the 1st quarter. Citigroup Inc. now owns 7,856 shares of the conglomerate’s stock worth $851,000 after purchasing an additional 355 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Crane by 1.1% during the 1st quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock worth $1,408,000 after purchasing an additional 136 shares during the period. 85.91% 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.