CR has been the topic of a number of other reports. Zacks Investment Research cut shares of Crane from a buy rating to a hold rating in a research note on Tuesday, September 27th. Bank of America Corp. raised shares of Crane from an underperform rating to a neutral rating and set a $70.00 price objective on the stock in a research note on Friday, July 29th. Alembic Global Advisors initiated coverage on shares of Crane in a research note on Monday, July 11th. They issued a neutral rating and a $61.00 price objective on the stock. Royal Bank Of Canada increased their price objective on shares of Crane from $57.00 to $63.00 and gave the company a sector perform rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG reissued a hold rating on shares of Crane in a research note on Friday, August 5th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Crane presently has a consensus rating of Hold and an average target price of $62.70.
Crane (NYSE:CR) opened at 60.77 on Wednesday. The stock has a market capitalization of $3.55 billion, a P/E ratio of 14.61 and a beta of 1.37. The firm’s 50-day moving average is $62.42 and its 200-day moving average is $59.28. Crane has a 52 week low of $41.68 and a 52 week high of $65.88.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.19. Crane had a net margin of 9.01% and a return on equity of 21.25%. The business had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $697.13 million. During the same period in the prior year, the company posted $1.06 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that Crane will post ($0.17) EPS for the current fiscal year.
In other news, insider Thomas J. Craney sold 3,915 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $64.54, for a total transaction of $252,674.10. Following the transaction, the insider now directly owns 20,062 shares in the company, valued at approximately $1,294,801.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Philip R. Lochner sold 4,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $64.90, for a total transaction of $259,600.00. Following the transaction, the director now owns 2,350 shares in the company, valued at $152,515. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parametrica Management Ltd acquired a new stake in Crane during the third quarter worth about $211,000. CenturyLink Investment Management Co acquired a new stake in Crane during the third quarter worth about $1,614,000. Creative Planning increased its stake in Crane by 2,413.2% in the third quarter. Creative Planning now owns 25,710 shares of the company’s stock worth $1,620,000 after buying an additional 24,687 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Crane by 4.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 17,054 shares of the company’s stock worth $1,075,000 after buying an additional 736 shares during the period. Finally, Mason Street Advisors LLC acquired a new stake in Crane during the second quarter worth about $1,282,000. Institutional investors and hedge funds own 67.39% of the company’s stock.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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