Crane (NYSE:CR) Hits New 12-Month High - What's Next?

Crane (NYSE:CR - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $163.51 and last traded at $163.11, with a volume of 39395 shares traded. The stock had previously closed at $160.13.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Crane from $168.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on Crane from $175.00 to $182.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.33.

Crane Trading Up 5.5 %

The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The business has a fifty day moving average price of $154.88 and a 200 day moving average price of $149.26.

Crane (NYSE:CR - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same period in the prior year, the firm posted $1.03 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 annualized dividend and a yield of 0.49%. Crane's dividend payout ratio is currently 18.06%.

Institutional Trading of Crane

Large investors have recently modified their holdings of the business. Matrix Trust Co bought a new position in shares of Crane during the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Crane in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new stake in shares of Crane in the third quarter valued at approximately $30,000. Covestor Ltd increased its stake in shares of Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 131 shares during the period. Finally, ORG Partners LLC acquired a new stake in shares of Crane in the second quarter valued at approximately $31,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

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.

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