Crane (NYSE:CR) Reaches New 12-Month High Following Earnings Beat

Crane (NYSE:CR)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $139.54 and last traded at $134.59, with a volume of 37167 shares traded. The stock had previously closed at $130.73.

The conglomerate reported $1.22 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 firm had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be given a dividend of $0.205 per share. The ex-dividend date is Friday, May 31st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.58%. Crane’s dividend payout ratio (DPR) is 22.22%.

Analyst Upgrades and Downgrades

CR has been the subject of a number of research analyst reports. DA Davidson lifted their target price on Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com downgraded Crane from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Bank of America lifted their target price on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. boosted its position in shares of Crane by 99.3% during the 3rd 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 last quarter. Fifth Third Bancorp increased its stake 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 period. Picton Mahoney Asset Management purchased a new position in Crane in the 4th quarter worth approximately $90,000. Sutton Place Investors LLC purchased a new position in Crane in the 1st quarter worth approximately $206,000. Finally, InTrack Investment Management Inc purchased a new position in shares of Crane during the first quarter valued at approximately $210,000. Institutional investors own 75.14% of the company’s stock.

Crane Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The stock has a market capitalization of $8.12 billion, a PE ratio of 38.55, a PEG ratio of 1.93 and a beta of 1.49. The company has a 50 day moving average price of $130.01 and a 200-day moving average price of $115.65.

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.