Crane (NYSE:CR) Hits New 12-Month High - Here's What Happened

Crane (NYSE:CR - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $194.37 and last traded at $192.39, with a volume of 42415 shares trading hands. The stock had previously closed at $193.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $187.00 to $226.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. DA Davidson restated a "buy" rating and issued a $200.00 target price on shares of Crane in a research note on Tuesday, June 10th. Stifel Nicolaus lifted their target price on Crane from $144.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, April 30th. Finally, UBS Group set a $215.00 target price on Crane and gave the company a "buy" rating in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $197.75.

Crane Trading Down 1.1%

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 business has a 50-day moving average of $177.42 and a 200-day moving average of $163.31. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.93 and a beta of 1.26.

Crane (NYSE:CR - Get Free Report) last released its earnings results on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $557.60 million for the quarter, compared to the consensus estimate of $546.93 million. During the same quarter in the previous year, the business earned $1.22 earnings per share. Crane's quarterly revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Friday, May 30th. Crane's payout ratio is currently 15.94%.

Insider Buying and Selling

In related news, SVP Jason D. Feldman sold 1,300 shares of Crane stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $177.10, for a total transaction of $230,230.00. Following the completion of the transaction, the senior vice president owned 9,796 shares in the company, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.12% of the company's stock.

Hedge Funds Weigh In On Crane

Hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank grew its holdings in Crane by 487.8% during the fourth quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock worth $37,000 after purchasing an additional 200 shares during the period. Golden State Wealth Management LLC grew its position in shares of Crane by 104.8% in the first quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after purchasing an additional 131 shares during the last quarter. Westpac Banking Corp acquired a new position in shares of Crane in the first quarter valued at approximately $76,000. Fifth Third Bancorp grew its position in shares of Crane by 31.4% in the first quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock valued at $87,000 after purchasing an additional 136 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Crane by 17.8% in the fourth quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock valued at $89,000 after purchasing an additional 88 shares during the last quarter. Institutional investors 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.