DA Davidson Boosts Crane (NYSE:CR) Price Target to $160.00

Crane (NYSE:CR) had its price target raised by DA Davidson from $142.00 to $160.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the conglomerate’s stock. DA Davidson also issued estimates for Crane’s Q2 2024 earnings at $1.23 EPS, FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

A number of other analysts have also recently commented on the company. StockNews.com cut Crane from a buy rating to a hold rating in a research report on Friday, April 19th. Stifel Nicolaus boosted their price objective on Crane from $150.00 to $157.00 and gave the company a buy rating in a research report on Wednesday. Bank of America boosted their price objective on Crane from $110.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, Vertical Research upgraded Crane from a hold rating to a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Crane presently has an average rating of Moderate Buy and an average price target of $137.00.

Crane Trading Up 0.2 %

Shares of NYSE:CR opened at $144.24 on Wednesday. Crane has a 12-month low of $67.28 and a 12-month high of $146.29. The company has a market capitalization of $8.23 billion, a PE ratio of 38.67, a PEG ratio of 1.93 and a beta of 1.49. The business has a 50 day moving average of $130.79 and a two-hundred day moving average of $116.03. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. During the same period in the previous year, the company posted $1.25 earnings per share. Crane’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, May 30th. Crane’s payout ratio is 21.98%.

Institutional Trading of Crane

Several large investors have recently made changes to their positions in CR. Congress Asset Management Co. MA increased its position in shares of Crane by 120.5% during the third quarter. Congress Asset Management Co. MA now owns 1,316,245 shares of the conglomerate’s stock worth $116,935,000 after purchasing an additional 719,408 shares in the last quarter. Norges Bank purchased a new stake in shares of Crane during the fourth quarter worth approximately $59,659,000. Kennedy Capital Management LLC purchased a new stake in Crane in the 3rd quarter valued at $21,302,000. Capital International Investors grew its holdings in Crane by 44.7% in the 4th quarter. Capital International Investors now owns 663,221 shares of the conglomerate’s stock valued at $78,353,000 after buying an additional 204,924 shares in the last quarter. Finally, JS Capital Management LLC grew its holdings in Crane by 98.0% in the 3rd quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate’s stock valued at $35,536,000 after buying an additional 198,000 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

About Crane

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.