Crane (NYSE:CR) PT Raised to $160.00 at DA Davidson

Crane (NYSE:CR) had its target price upped by DA Davidson from $142.00 to $160.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has 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.

Several other equities analysts have also commented on CR. Stifel Nicolaus increased their price target on shares of Crane from $150.00 to $157.00 and gave the company a buy rating in a research note on Wednesday. StockNews.com lowered shares of Crane from a buy rating to a hold rating in a research note on Friday, April 19th. Bank of America increased their price target on shares of Crane from $110.00 to $140.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Finally, Vertical Research upgraded shares of Crane from a hold rating to a buy rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $137.00.

Crane Stock Up 0.3 %

CR stock opened at $144.35 on Wednesday. The company’s 50 day moving average price is $131.24 and its 200 day moving average price is $116.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $146.29. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last released its earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. During the same period in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Dividend Announcement

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

Institutional Investors Weigh In On Crane

Several large investors have recently modified their holdings of CR. Ronald Blue Trust Inc. boosted its holdings in shares of Crane by 99.3% in the third quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 143 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Crane by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Crane during the fourth quarter worth $90,000. Jump Financial LLC acquired a new stake in shares of Crane during the third quarter worth $201,000. Finally, Claret Asset Management Corp acquired a new stake in shares of Crane during the fourth quarter worth $201,000. 75.14% of the stock is owned by institutional investors and hedge funds.

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.