Crane (NYSE:CR) Hits New 52-Week High on Analyst Upgrade

Shares of Crane (NYSE:CR - Get Free Report) hit a new 52-week high during trading on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $187.00 to $226.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Crane traded as high as $191.00 and last traded at $189.03, with a volume of 47150 shares traded. The stock had previously closed at $185.99.

Several other brokerages also recently weighed in on CR. Wall Street Zen downgraded Crane from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. UBS Group set a $215.00 target price on shares of Crane and gave the stock a "buy" rating in a research note on Tuesday. Stifel Nicolaus raised their target price on shares of Crane from $144.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday, April 30th. Finally, DA Davidson reiterated a "buy" rating and set a $200.00 price target on shares of Crane in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $197.75.

Insider Transactions at Crane

In related news, SVP Jason D. Feldman sold 1,300 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $177.10, for a total transaction of $230,230.00. Following the completion of the sale, the senior vice president now directly owns 9,796 shares of the company's stock, valued at approximately $1,734,871.60. This trade represents a 11.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.12% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank grew its holdings in shares of Crane by 487.8% in the 4th quarter. Huntington National Bank now owns 241 shares of the conglomerate's stock worth $37,000 after acquiring an additional 200 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Crane by 104.8% in the 1st 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 period. Westpac Banking Corp purchased a new position in Crane in the 1st quarter worth about $76,000. Fifth Third Bancorp increased its stake in Crane by 31.4% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock worth $87,000 after purchasing an additional 136 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Crane by 17.8% during the 4th quarter. Jones Financial Companies Lllp now owns 583 shares of the conglomerate's stock worth $89,000 after buying an additional 88 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Stock Up 0.2%

The business's 50 day simple moving average is $160.53 and its 200 day simple moving average is $161.48. The company has a market capitalization of $10.76 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.10. The business had revenue of $557.60 million during the quarter, compared to analyst estimates of $546.93 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $1.22 earnings per share. As a group, analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, May 30th. Crane's payout ratio is presently 15.94%.

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.