Crane Co. (NYSE:CR) – Stock analysts at Seaport Global Securities raised their Q2 2017 earnings per share (EPS) estimates for Crane in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst R. Cassil now expects that the brokerage will post earnings per share of $1.18 for the quarter, up from their previous forecast 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.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 target price for the company in a research note on Friday, July 29th. Alembic Global Advisors assumed coverage on shares of Crane in a research note on Monday, July 11th. They issued a “neutral” rating and a $61.00 target price for the company. Royal Bank Of Canada upped their target price on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Crane in a research note on Friday, August 5th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.00.
Shares of Crane (NYSE:CR) opened at 61.72 on Monday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 14.84 and a beta of 1.37. Crane has a 1-year low of $41.68 and a 1-year high of $65.88. The company has a 50 day moving average of $63.35 and a 200 day moving average of $58.84.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the 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 earned $712.20 million during the quarter, compared to analyst estimates of $697.13 million. During the same quarter in the previous year, the business earned $1.06 EPS. Crane’s quarterly revenue was up .1% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, August 29th. Crane’s dividend payout ratio (DPR) is presently 31.73%.
In other news, insider Louis V. Pinkham sold 16,576 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $65.32, for a total value of $1,082,744.32. Following the sale, the insider now directly owns 20,449 shares of the company’s stock, valued at $1,335,728.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP A D. Pantaleoni sold 5,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was 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 disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Several large investors have recently made changes to their positions in 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 in the last quarter. BlackRock Fund Advisors increased its stake in shares of 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 in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 in the last quarter. State Street Corp increased its stake in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 in the last quarter. 67.40% of the stock is currently owned by hedge funds and other institutional investors.
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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