CR has been the topic of several other research reports. Royal Bank Of Canada boosted their price objective on Crane from $57.00 to $63.00 and gave the stock a sector perform rating in a report on Wednesday, July 27th. Zacks Investment Research downgraded Crane from a buy rating to a hold rating in a report on Tuesday, September 27th. Credit Suisse Group AG restated a hold rating on shares of Crane in a report on Friday, August 5th. Bank of America Corp. upgraded Crane from an underperform rating to a neutral rating and set a $70.00 price objective on the stock in a report on Friday, July 29th. Finally, Canaccord Genuity restated a hold rating and set a $60.00 price objective on shares of Crane in a report on Friday, June 17th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $62.00.
Shares of Crane (NYSE:CR) traded down 0.158% on Wednesday, reaching $60.654. 39,409 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $62.68 and its 200-day moving average price is $59.11. The company has a market capitalization of $3.54 billion, a P/E ratio of 14.580 and a beta of 1.37. Crane has a 12 month low of $41.68 and a 12 month high of $65.88.
Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.19. The firm had revenue of $712.20 million for the quarter, compared to the consensus estimate of $697.13 million. Crane had a return on equity of 21.25% and a net margin of 9.01%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. On average, equities analysts anticipate that Crane will post ($0.17) EPS for the current year.
In other Crane news, VP A D. Pantaleoni sold 5,000 shares of the company’s stock in a transaction that occurred on 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 owns 9,876 shares of the company’s stock, valued at $619,620.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Craney sold 3,915 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $64.54, for a total value of $252,674.10. Following the sale, the insider now directly owns 20,062 shares of the company’s stock, valued at approximately $1,294,801.48. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CR. State Street Corp boosted its stake in shares of Crane by 2.5% in the first quarter. State Street Corp now owns 1,229,273 shares of the company’s stock worth $66,209,000 after buying an additional 29,426 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Crane by 7.4% in the second quarter. Principal Financial Group Inc. now owns 507,745 shares of the company’s stock valued at $28,799,000 after buying an additional 34,825 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Crane by 61.6% in the first quarter. Renaissance Technologies LLC now owns 352,400 shares of the company’s stock valued at $18,980,000 after buying an additional 134,300 shares in the last quarter. LSV Asset Management boosted its stake in Crane by 58.5% in the second quarter. LSV Asset Management now owns 406,488 shares of the company’s stock valued at $23,055,000 after buying an additional 150,040 shares in the last quarter. Finally, Robecosam AG boosted its stake in Crane by 16.1% in the first quarter. Robecosam AG now owns 153,319 shares of the company’s stock valued at $8,321,000 after buying an additional 21,291 shares in the last quarter. 67.40% of the stock is owned by hedge funds and other institutional investors.
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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