Crane (NYSE:CR) Stock Rating Reaffirmed by Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Crane (NYSE:CR - Free Report) in a report released on Wednesday morning, Benzinga reports. The firm currently has a $157.00 price objective on the conglomerate's stock.

Several other analysts also recently issued reports on the company. Vertical Research upgraded Crane from a hold rating to a buy rating in a report on Wednesday, April 24th. StockNews.com upgraded Crane from a hold rating to a buy rating in a report on Saturday, April 27th. Bank of America increased their price target on Crane from $110.00 to $140.00 and gave the company a buy rating in a report on Tuesday, March 5th. Finally, DA Davidson increased their price target on Crane from $142.00 to $160.00 and gave the company a buy rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $139.50.

Crane Trading Up 3.0 %

Shares of CR stock traded up $4.32 on Wednesday, reaching $149.63. 329,238 shares of the stock were exchanged, compared to its average volume of 246,546. The stock has a market cap of $8.55 billion, a P/E ratio of 39.45, a price-to-earnings-growth 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 firm has a 50 day moving average of $136.19 and a two-hundred day moving average of $121.44. Crane has a 1-year low of $71.33 and a 1-year high of $150.01.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. The business had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. On average, research analysts anticipate that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.55%. Crane's payout ratio is 21.98%.

Hedge Funds Weigh In On Crane

Large investors have recently bought and sold shares of the business. Covestor Ltd raised its holdings in shares of Crane by 150.6% during the first quarter. Covestor Ltd now owns 218 shares of the conglomerate's stock valued at $30,000 after buying an additional 131 shares during the last quarter. Fifth Third Bancorp raised its holdings in Crane by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate's stock worth $40,000 after purchasing an additional 99 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Crane during the fourth quarter worth approximately $90,000. SkyOak Wealth LLC bought a new stake in Crane during the first quarter worth approximately $203,000. Finally, Sutton Place Investors LLC bought a new stake in Crane during the first quarter worth approximately $206,000. 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.