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

Crane (NYSE:CR) had its target price lifted by DA Davidson from $142.00 to $160.00 in a research note published on Wednesday, Benzinga reports. DA Davidson 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 also recently weighed in on CR. Vertical Research upgraded shares of Crane from a hold rating to a buy rating in a report on Wednesday. StockNews.com downgraded shares of Crane from a buy rating to a hold rating in a report on Friday, April 19th. Bank of America increased their price target on shares of Crane from $110.00 to $140.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus increased their price target on shares of Crane from $150.00 to $157.00 and gave the stock a buy rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $137.00.

Crane Stock Performance

Shares of Crane stock opened at $144.35 on Wednesday. The firm has a market capitalization of $8.24 billion, a P/E ratio of 38.70, a PEG ratio of 1.93 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average price of $131.24 and a 200 day moving average price of $116.58. Crane has a 52 week low of $67.28 and a 52 week high of $146.29.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm 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%. Crane’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. Sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

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 paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.57%. Crane’s payout ratio is 21.98%.

Institutional Investors Weigh In On Crane

A number of hedge funds and other institutional investors have recently made changes to their positions in CR. Ronald Blue Trust Inc. grew its stake in shares of Crane by 99.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 143 shares during the period. Fifth Third Bancorp grew its stake in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 99 shares during the period. Picton Mahoney Asset Management acquired a new stake in Crane in the 4th quarter valued at $90,000. Jump Financial LLC acquired a new stake in Crane in the 3rd quarter valued at $201,000. Finally, Claret Asset Management Corp acquired a new stake in Crane in the 4th quarter valued at $201,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

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.