Crane Company (NYSE:CR)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity in a research report issued to clients and investors on Friday, November 3rd.
A number of other research firms also recently weighed in on CR. BidaskClub downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Wolfe Research began coverage on shares of Crane in a report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Stifel Nicolaus restated a “hold” rating and set a $85.00 price target on shares of Crane in a report on Friday, July 14th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $92.14.
Crane (NYSE CR) traded up $0.06 during trading hours on Friday, reaching $82.84. 130,016 shares of the company were exchanged, compared to its average volume of 318,274. Crane has a 1-year low of $67.62 and a 1-year high of $86.67. The company has a market capitalization of $4,940.00, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm had revenue of $695.90 million for the quarter, compared to the consensus estimate of $679.77 million. During the same period in the prior year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. analysts anticipate that Crane will post 4.53 EPS for the current fiscal year.
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In other news, Director E Thayer Bigelow sold 1,067 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $82.79, for a total transaction of $88,336.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James L. L Tullis sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the sale, the director now owns 2,110 shares in the company, valued at $171,838.40. The disclosure for this sale can be found here. Insiders sold a total of 35,403 shares of company stock worth $2,856,878 over the last 90 days. 3.10% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of CR. OppenheimerFunds Inc. increased its position in shares of Crane by 19.0% in the first quarter. OppenheimerFunds Inc. now owns 9,227 shares of the conglomerate’s stock worth $690,000 after purchasing an additional 1,476 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Crane in the first quarter worth approximately $831,000. Renaissance Technologies LLC boosted its stake in Crane by 47.5% in the first quarter. Renaissance Technologies LLC now owns 230,500 shares of the conglomerate’s stock worth $17,248,000 after buying an additional 74,200 shares in the last quarter. BlackRock Inc. boosted its stake in Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after buying an additional 3,955,159 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Crane by 10.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 285,167 shares of the conglomerate’s stock worth $21,340,000 after buying an additional 26,035 shares in the last quarter. Institutional investors own 68.72% of the company’s stock.
Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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