Short Interest in Crane (NYSE:CR) Increases By 7.8%

Crane (NYSE:CRGet Free Report) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 900,400 shares, a growth of 7.8% from the February 29th total of 835,300 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily volume of 248,000 shares, the short-interest ratio is presently 3.6 days.

Crane Stock Performance

NYSE:CR traded up $1.17 during trading hours on Wednesday, reaching $136.37. The company had a trading volume of 33,550 shares, compared to its average volume of 247,227. Crane has a 1-year low of $67.28 and a 1-year high of $136.98. The firm has a market cap of $7.79 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The business’s 50 day moving average price is $126.25 and its 200-day moving average price is $110.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CRGet Free Report) last announced its quarterly earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $532.90 million during the quarter, compared to the consensus estimate of $519.55 million. Research analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.60%. This is a boost from Crane’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 28th. Crane’s payout ratio is presently 22.22%.

Institutional Trading of Crane

Large investors have recently made changes to their positions in the company. Money Concepts Capital Corp purchased a new stake in Crane in the 4th quarter valued at $25,000. Ronald Blue Trust Inc. grew its holdings in Crane by 99.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock valued at $26,000 after buying an additional 143 shares in the last quarter. Amundi purchased a new stake in Crane in the 4th quarter valued at $32,000. Pinebridge Investments L.P. grew its holdings in Crane by 187.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 699 shares of the conglomerate’s stock valued at $39,000 after buying an additional 456 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after buying an additional 99 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on CR shares. Stifel Nicolaus lifted their target price on Crane from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Finally, Bank of America boosted their price target on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.67.

Get Our Latest Analysis on Crane

Crane Company Profile

(Get Free Report)

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.

Further Reading

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