Crane Co. (NYSE:CR) – Stock analysts at Seaport Global Securities boosted their Q2 2017 EPS estimates for shares of Crane in a report released on Thursday. Seaport Global Securities analyst R. Cassil now anticipates that the firm will post earnings of $1.18 per share for the quarter, up from their previous estimate of $1.16. Seaport Global Securities also issued estimates for Crane’s Q3 2017 earnings at $1.07 EPS, Q4 2017 earnings at $1.10 EPS and FY2017 earnings at $4.27 EPS.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.19. Crane had a net margin of 9.01% and a return on equity of 21.25%. The firm earned $712.20 million during the quarter, compared to analysts’ expectations of $697.13 million. During the same period in the prior year, the company earned $1.06 EPS. The firm’s revenue was up .1% on a year-over-year basis.
A number of other analysts have also recently weighed in on CR. Canaccord Genuity restated a “hold” rating and set a $60.00 target price on shares of Crane in a report on Friday, June 17th. Alembic Global Advisors initiated coverage on shares of Crane in a report on Monday, July 11th. They set a “neutral” rating and a $61.00 target price for the company. Zacks Investment Research cut shares of Crane from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Royal Bank Of Canada raised their target price on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 27th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $63.00 target price (up from $57.00) on shares of Crane in a report on Wednesday, July 27th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $62.00.
Shares of Crane (NYSE:CR) opened at 62.50 on Monday. The company’s 50-day moving average is $63.44 and its 200-day moving average is $58.79. Crane has a 12 month low of $41.68 and a 12 month high of $65.88. The stock has a market capitalization of $3.65 billion, a PE ratio of 15.02 and a beta of 1.37.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Crane by 7.4% in the second quarter. Vanguard Group Inc. now owns 3,869,873 shares of the company’s stock worth $219,500,000 after buying an additional 265,637 shares during the last quarter. BlackRock Fund Advisors increased its stake in Crane by 5.4% in the second quarter. BlackRock Fund Advisors now owns 1,749,403 shares of the company’s stock worth $99,226,000 after buying an additional 89,444 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Crane by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,460,348 shares of the company’s stock worth $82,831,000 after buying an additional 47,212 shares during the last quarter. State Street Corp increased its stake in Crane by 3.4% in the second quarter. State Street Corp now owns 1,270,734 shares of the company’s stock worth $72,078,000 after buying an additional 41,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Crane by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 839,081 shares of the company’s stock worth $47,591,000 after buying an additional 32,008 shares during the last quarter. Institutional investors own 67.40% of the company’s stock.
In other Crane news, Director E Thayer Bigelow sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $64.96, for a total value of $259,840.00. Following the completion of the sale, the director now owns 21,791 shares in the company, valued at approximately $1,415,543.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bradley Ellis sold 10,000 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $65.14, for a total transaction of $651,400.00. Following the completion of the sale, the insider now owns 167,711 shares of the company’s stock, valued at approximately $10,924,694.54. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were given a $0.33 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 2.11%. Crane’s payout ratio is 31.73%.
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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