Crane (NYSE:CR) Upgraded to “Buy” at Vertical Research

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

A number of other brokerages have also recently issued reports on CR. Bank of America lifted their price objective on shares of Crane from $110.00 to $140.00 and gave the company a buy rating in a report on Tuesday, March 5th. StockNews.com cut shares of Crane from a buy rating to a hold rating in a report on Friday, April 19th. Finally, Stifel Nicolaus raised their price target on shares of Crane from $135.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $137.00.

Crane Stock Up 0.2 %

Shares of NYSE CR opened at $144.24 on Wednesday. The stock has a market capitalization of $8.23 billion, a P/E ratio of 38.67, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a 50-day moving average price of $130.79 and a 200-day moving average price of $116.03. Crane has a 1 year low of $67.28 and a 1 year high of $146.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

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

Crane Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CR. Ronald Blue Trust Inc. raised its position in Crane by 99.3% in the third quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 143 shares during the period. Fifth Third Bancorp raised its position in Crane by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 99 shares during the period. Picton Mahoney Asset Management bought a new stake in Crane in the fourth quarter worth about $90,000. Sutton Place Investors LLC bought a new stake in Crane in the first quarter worth about $206,000. Finally, InTrack Investment Management Inc bought a new stake in Crane in the first quarter worth about $210,000. 75.14% of the stock is owned by institutional investors.

About Crane

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.