Crane (NYSE:CR) Shares Gap Up on Earnings Beat

Shares of Crane (NYSE:CR) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $156.44, but opened at $164.55. Crane shares last traded at $171.54, with a volume of 68,510 shares changing hands.

The conglomerate reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same period in the prior year, the firm posted $0.90 EPS.

Crane Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.23 per share. This is a boost from Crane’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 0.53%. Crane’s payout ratio is currently 18.06%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CR. Stifel Nicolaus dropped their price target on shares of Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research note on Friday. UBS Group boosted their target price on Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and an average price target of $166.80.

Hedge Funds Weigh In On Crane

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Crane by 16.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock valued at $103,748,000 after purchasing an additional 91,029 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Crane by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock valued at $92,707,000 after acquiring an additional 3,188 shares during the last quarter. AQR Capital Management LLC raised its stake in Crane by 11.9% during the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock worth $27,902,000 after acquiring an additional 20,518 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Crane by 5.1% during the third quarter. Segall Bryant & Hamill LLC now owns 183,725 shares of the conglomerate’s stock worth $29,080,000 after acquiring an additional 8,899 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Crane by 3.2% in the third quarter. Retirement Systems of Alabama now owns 132,200 shares of the conglomerate’s stock worth $20,925,000 after acquiring an additional 4,096 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Crane Trading Up 10.6 %

The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.93 and a beta of 1.22. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $163.69 and its two-hundred day moving average price is $158.47.

Crane Company Profile

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.