Stifel Nicolaus Boosts Crane (NYSE:CR) Price Target to $157.00

Crane (NYSE:CR) had its price objective raised by Stifel Nicolaus from $150.00 to $157.00 in a report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the conglomerate’s stock.

Several other brokerages have also commented on CR. StockNews.com lowered shares of Crane from a buy rating to a hold rating in a research note on Friday, April 19th. Bank of America upped their target price on shares of Crane from $110.00 to $140.00 and gave the company a buy rating in a report on Tuesday, March 5th. Finally, Vertical Research upgraded shares of Crane from a hold rating to a buy rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $137.00.

Crane Stock Performance

Shares of CR stock opened at $144.24 on Wednesday. The company has a market cap of $8.23 billion, a P/E ratio of 38.67, a PEG ratio of 1.93 and a beta of 1.49. The firm has a fifty day moving average price of $130.79 and a 200 day moving average price of $116.03. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 12 month low of $67.28 and a 12 month high of $146.29.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (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 company had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. During the same period in the previous year, the business earned $1.25 EPS. Crane’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be issued a $0.205 dividend. This represents a $0.82 annualized dividend 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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ronald Blue Trust Inc. lifted its position in Crane by 99.3% during the 3rd 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 lifted its holdings in shares of Crane by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares during the period. Picton Mahoney Asset Management purchased a new position in Crane in the 4th quarter valued at $90,000. Sutton Place Investors LLC acquired a new position in Crane in the 1st quarter valued at $206,000. Finally, InTrack Investment Management Inc purchased a new position in Crane during the 1st quarter worth $210,000. 75.14% 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.