Crane Co. (NYSE:CR) – Avondale Partners issued their Q3 2016 earnings per share (EPS) estimates for Crane in a research note issued to investors on Wednesday. Avondale Partners analyst I. Maryasis expects that the brokerage will earn $1.07 per share for the quarter. Avondale Partners has a “Market Perform” rating on the stock.
Crane (NYSE:CR) last released its earnings results on Monday, July 25th. The company reported $1.21 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 period in the prior year, the business earned $1.06 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis.
Several other equities analysts also recently commented on the stock. Royal Bank Of Canada upped their price target 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. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Credit Suisse Group AG restated a “hold” rating on shares of Crane in a research note on Friday, August 5th. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target on the stock in a research note on Friday, July 29th. Finally, Alembic Global Advisors started coverage on shares of Crane in a research note on Monday, July 11th. They issued a “neutral” rating and a $61.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $62.70.
Shares of Crane (NYSE:CR) opened at 60.78 on Friday. Crane has a 1-year low of $41.68 and a 1-year high of $65.88. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 14.61 and a beta of 1.37. The company’s 50-day moving average is $62.55 and its 200 day moving average is $59.16.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its position 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 period. Principal Financial Group Inc. raised its position in shares of Crane by 7.4% in the second quarter. Principal Financial Group Inc. now owns 507,745 shares of the company’s stock worth $28,799,000 after buying an additional 34,825 shares during the period. Renaissance Technologies LLC raised its position in shares of Crane by 61.6% in the first quarter. Renaissance Technologies LLC now owns 352,400 shares of the company’s stock worth $18,980,000 after buying an additional 134,300 shares during the period. LSV Asset Management raised its position in shares of Crane by 58.5% in the second quarter. LSV Asset Management now owns 406,488 shares of the company’s stock worth $23,055,000 after buying an additional 150,040 shares during the period. Finally, Robecosam AG raised its position in shares of Crane by 16.1% in the first quarter. Robecosam AG now owns 153,319 shares of the company’s stock worth $8,321,000 after buying an additional 21,291 shares during the period. 67.40% of the stock is owned by hedge funds and other institutional investors.
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 completion of the transaction, the insider now owns 20,449 shares of the company’s stock, valued at $1,335,728.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director E Thayer Bigelow sold 4,000 shares of the 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 completion of the transaction, the director now directly owns 21,791 shares of the company’s stock, valued at approximately $1,415,543.36. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
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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