Crane Co. (NYSE:CR) has earned an average recommendation of “Buy” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $105.49.
Several research firms have issued reports on CR. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Canaccord Genuity restated a “buy” rating on shares of Crane in a research report on Friday, November 3rd. Boenning Scattergood restated a “hold” rating on shares of Crane in a research report on Tuesday, January 30th. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. Finally, AltaCorp Capital restated a “buy” rating on shares of Crane in a research report on Monday, January 15th.
Crane (CR) traded up $0.08 during midday trading on Tuesday, hitting $94.23. 143,040 shares of the company were exchanged, compared to its average volume of 365,196. The company has a quick ratio of 1.40, a current ratio of 1.81 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $5,592.55, a price-to-earnings ratio of 33.18, a PEG ratio of 1.34 and a beta of 1.20. Crane has a fifty-two week low of $70.56 and a fifty-two week high of $102.65.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Wednesday, February 28th will be paid a $0.35 dividend. This is a positive change from Crane’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, February 27th. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. Crane’s dividend payout ratio (DPR) is currently 46.48%.
In related news, VP Augustus I. Dupont sold 16,396 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total value of $1,602,545.04. Following the completion of the transaction, the vice president now owns 102,994 shares of the company’s stock, valued at approximately $10,066,633.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director E Thayer Bigelow sold 1,125 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $94.74, for a total transaction of $106,582.50. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC boosted its stake in Crane by 54.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after purchasing an additional 800 shares during the period. Fruth Investment Management acquired a new position in Crane in the 4th quarter worth approximately $205,000. Levin Capital Strategies L.P. acquired a new stake in shares of Crane during the 4th quarter valued at $208,000. Vident Investment Advisory LLC acquired a new stake in shares of Crane during the 3rd quarter valued at $209,000. Finally, JOYN Advisors Inc. acquired a new stake in shares of Crane during the 4th quarter valued at $213,000. 68.81% of the stock is owned by hedge funds and other institutional investors.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including 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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