Stifel Nicolaus Forecasts Strong Price Appreciation for Crane (NYSE:CR) Stock

Crane (NYSE:CR - Free Report) had its price objective increased by Stifel Nicolaus from $165.00 to $189.00 in a report released on Monday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the conglomerate's stock.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Crane from $187.00 to $226.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. DA Davidson reaffirmed a "buy" rating and set a $200.00 price objective on shares of Crane in a research note on Tuesday, June 10th. Finally, UBS Group set a $215.00 target price on Crane and gave the company a "buy" rating in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $207.50.

Crane Stock Performance

CR traded up $0.64 during midday trading on Monday, reaching $187.50. The company's stock had a trading volume of 176,670 shares, compared to its average volume of 282,403. The stock has a market cap of $10.78 billion, a P/E ratio of 24.83, a PEG ratio of 1.93 and a beta of 1.26. The company has a fifty day simple moving average of $181.51 and a 200 day simple moving average of $165.50. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a twelve month low of $127.04 and a twelve month high of $195.00.

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

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, May 30th. Crane's dividend payout ratio (DPR) is presently 15.94%.

Insider Activity at Crane

In other Crane 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. The trade was a 11.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crane

A number of hedge funds and other institutional investors have recently modified their holdings of CR. Huntington National Bank raised 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 purchasing an additional 200 shares during the period. Golden State Wealth Management LLC raised its holdings in Crane by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 256 shares of the conglomerate's stock valued at $39,000 after acquiring an additional 131 shares during the period. Westpac Banking Corp purchased a new position in shares of Crane during the 1st quarter valued at $76,000. Fifth Third Bancorp grew its position in shares of Crane by 31.4% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the conglomerate's stock valued at $87,000 after purchasing an additional 136 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Crane by 84.7% during the 1st quarter. UMB Bank n.a. now owns 687 shares of the conglomerate's stock valued at $105,000 after purchasing an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

About Crane

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.