According to Zacks, “Crane Co. remains well-positioned to leverage benefits from its diversified product portfolio and a large client base, over the long run. Also, the company consistently undertakes organic and inorganic initiatives to expand in existing and new markets as well as improve its product portfolio. Backed by these positives, the company targets to achieve 10% average annual earnings per share growth in the long run. Free cash flow conversion is anticipated to be 100% or more of net income. For 2016, the company increased its earnings guidance to $4.00-$4.20 per share, from $3.85-$4.15 expected earlier. However, risks from foreign currency translation, stiff competition and uncertain global economic conditions can restrict its momentum in the near term. Adverse foreign currency movements will likely hurt its top line by 2% in 2016.”
Several other research firms have also recently commented on CR. Credit Suisse Group AG restated a hold rating on shares of Crane in a research note on Friday, August 5th. RBC Capital Markets reiterated a sector perform rating and issued a $63.00 price target (up previously from $57.00) on shares of Crane in a report on Wednesday, July 27th. Bank of America Corp. upgraded shares of Crane from an underperform rating to a neutral rating and set a $70.00 price target for the company in a report on Friday, July 29th. Royal Bank Of Canada increased their price target on shares of Crane from $57.00 to $63.00 and gave the company a sector perform rating in a report on Wednesday, July 27th. Finally, Canaccord Genuity reiterated a hold rating and issued a $60.00 price target on shares of Crane in a report on Friday, June 17th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $62.00.
Crane (NYSE:CR) opened at 63.01 on Tuesday. Crane has a 12-month low of $41.68 and a 12-month high of $65.88. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 15.15 and a beta of 1.37. The firm has a 50-day moving average of $63.50 and a 200 day moving average of $58.64.
Crane (NYSE:CR) last released its earnings results on Monday, July 25th. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ 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 company earned $712.20 million during the quarter, compared to analysts’ expectations of $697.13 million. During the same quarter last year, the business earned $1.06 EPS. The business’s revenue was up .1% on a year-over-year basis. On average, equities analysts predict that Crane will post ($0.17) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.33 per share. The ex-dividend date was Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.09%. Crane’s dividend payout ratio (DPR) is presently 31.73%.
In other news, VP A D. Pantaleoni sold 5,000 shares of Crane stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total transaction of $313,700.00. Following the completion of the sale, the vice president now directly owns 9,876 shares in the company, valued at $619,620.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director E Thayer Bigelow sold 4,000 shares of Crane stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $64.96, for a total transaction of $259,840.00. Following the sale, the director now owns 21,791 shares of the company’s stock, valued at $1,415,543.36. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Several large investors have recently modified their holdings of CR. Vanguard Group Inc. increased its stake in shares of 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 period. BlackRock Fund Advisors boosted 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 valued at $99,226,000 after buying an additional 89,444 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted 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 valued at $82,831,000 after buying an additional 47,212 shares in the last quarter. State Street Corp boosted 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 valued at $72,078,000 after buying an additional 41,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 valued at $47,591,000 after buying an additional 32,008 shares in the last quarter. Institutional investors and hedge funds own 67.40% 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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