Crane (NYSE:CR) Reaches New 52-Week High at $150.96

Crane (NYSE:CR) shares hit a new 52-week high on Monday . The stock traded as high as $150.96 and last traded at $150.96, with a volume of 18958 shares trading hands. The stock had previously closed at $147.04.

Wall Street Analysts Forecast Growth

Several research firms have commented on CR. Bank of America boosted their target price on shares of Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. DA Davidson upped their price objective on shares of Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Stifel Nicolaus restated a “buy” rating and set a $157.00 target price on shares of Crane in a report on Wednesday, May 15th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.67.

Crane Stock Performance

The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80. The stock’s 50-day simple moving average is $144.98 and its two-hundred day simple moving average is $133.55. 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 (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $546.39 million. During the same quarter in the previous year, the firm earned $1.25 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were given a $0.205 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.82 annualized dividend and a dividend yield of 0.54%. Crane’s dividend payout ratio is 21.98%.

Institutional Trading of Crane

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Crane by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,649 shares of the conglomerate’s stock valued at $529,000 after purchasing an additional 94 shares during the period. Fifth Third Bancorp increased its holdings in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after buying an additional 99 shares during the period. SummerHaven Investment Management LLC increased its holdings in Crane by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 7,926 shares of the conglomerate’s stock valued at $936,000 after buying an additional 99 shares during the period. Janney Capital Management LLC raised its stake in shares of Crane by 3.2% in the 4th quarter. Janney Capital Management LLC now owns 3,560 shares of the conglomerate’s stock valued at $421,000 after buying an additional 110 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 131 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

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.