Crane Co. (NYSE:CR) announced a quarterly dividend on Monday, January 29th, RTT News reports. Stockholders of record on Wednesday, February 28th will be paid a dividend of 0.35 per share by the conglomerate on Friday, March 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Tuesday, February 27th. This is a boost from Crane’s previous quarterly dividend of $0.33.
Crane has increased its dividend by an average of 1.6% per year over the last three years. Crane has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Crane to earn $6.18 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 21.4%.
Shares of Crane (NYSE CR) opened at $94.23 on Monday. The stock has a market cap of $5,592.54, a PE ratio of 20.80, a PEG ratio of 1.34 and a beta of 1.20. Crane has a 52-week low of $70.56 and a 52-week high of $102.65. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.81 and a quick ratio of 1.40.
In other Crane news, Director E Thayer Bigelow sold 1,125 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.74, for a total transaction of $106,582.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Augustus I. Dupont sold 16,396 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $97.74, for a total value of $1,602,545.04. Following the transaction, the vice president now directly owns 102,994 shares of the company’s stock, valued at approximately $10,066,633.56. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
A number of research analysts recently commented on the company. AltaCorp Capital reaffirmed a “buy” rating on shares of Crane in a research note on Monday, January 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of Crane in a research note on Friday, November 3rd. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research note on Friday, February 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a research note on Tuesday, January 30th. Finally, Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $106.28.
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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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