Crane (NYSE:CR) Upgraded to Buy by Vertical Research

Vertical Research upgraded shares of Crane (NYSE:CR) from a hold rating to a buy rating in a report published on Wednesday, MarketBeat reports.

CR has been the topic of several other reports. StockNews.com lowered Crane from a buy rating to a hold rating in a research report on Friday, April 19th. Bank of America increased their target price on shares of Crane from $110.00 to $140.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus increased their target price on Crane from $135.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $137.00.

Crane Price Performance

CR opened at $144.35 on Wednesday. The company has a market capitalization of $8.24 billion, a P/E ratio of 38.70, a PEG ratio of 1.93 and a beta of 1.49. The company has a 50-day moving average of $131.24 and a 200-day moving average of $116.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 1-year low of $67.28 and a 1-year high of $146.29.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.57%. The ex-dividend date is Thursday, May 30th. Crane’s payout ratio is currently 21.98%.

Institutional Trading of Crane

Institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its holdings in Crane by 2.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the conglomerate’s stock worth $1,905,000 after acquiring an additional 400 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Crane by 3.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,194 shares of the conglomerate’s stock worth $1,242,000 after purchasing an additional 277 shares during the period. Sutton Place Investors LLC bought a new position in shares of Crane in the first quarter worth about $206,000. Raymond James & Associates lifted its position in shares of Crane by 7.9% during the 1st quarter. Raymond James & Associates now owns 68,481 shares of the conglomerate’s stock worth $9,254,000 after purchasing an additional 5,014 shares during the last quarter. Finally, Norden Group LLC boosted its stake in Crane by 1,363.7% during the 1st quarter. Norden Group LLC now owns 89,432 shares of the conglomerate’s stock valued at $12,086,000 after purchasing an additional 83,322 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

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.