Crane (NYSE:CR) Sees Significant Decline in Short Interest

Crane (NYSE:CRGet Free Report) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 630,900 shares, a decrease of 6.5% from the May 31st total of 675,000 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 207,100 shares, the short-interest ratio is currently 3.0 days.

Wall Street Analyst Weigh In

CR has been the topic of a number of analyst reports. Bank of America lifted their target price on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $157.00 target price on shares of Crane in a research report on Wednesday, May 15th. DA Davidson raised their price target on shares of Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group upped their price target on shares of Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Finally, StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.67.

Check Out Our Latest Stock Analysis on Crane

Institutional Investors Weigh In On Crane

Several large investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in shares of Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 131 shares during the last quarter. Fifth Third Bancorp grew its position in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 99 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Crane in the fourth quarter valued at approximately $90,000. SkyOak Wealth LLC bought a new stake in shares of Crane during the first quarter valued at approximately $203,000. Finally, Sutton Place Investors LLC acquired a new position in shares of Crane during the first quarter worth approximately $206,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Stock Performance

Crane stock opened at $144.65 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 12 month low of $82.57 and a 12 month high of $150.01. The company has a fifty day moving average price of $144.42 and a two-hundred day moving average price of $131.51. The company has a market cap of $8.27 billion, a PE ratio of 38.78, a P/E/G ratio of 1.93 and a beta of 0.87.

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

Crane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, May 31st. Crane’s dividend payout ratio (DPR) is 21.98%.

About Crane

(Get Free Report)

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.

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