Crane (NYSE:CR – Get Rating) had its price objective raised by equities research analysts at DA Davidson from $130.00 to $140.00 in a research report issued on Wednesday, The Fly reports. DA Davidson's price target points to a potential upside of 19.72% from the company's previous close.
Several other brokerages have also recently commented on CR. Morgan Stanley raised shares of Crane from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $116.00 to $129.00 in a research note on Monday, December 12th. Stifel Nicolaus lowered their price target on shares of Crane from $123.00 to $121.00 and set a "buy" rating for the company in a report on Tuesday, October 11th. StockNews.com lowered shares of Crane from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 26th. Finally, TheStreet raised shares of Crane from a "c+" rating to a "b-" rating in a research report on Thursday, November 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $128.75.
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Crane Stock Up 1.0 %
NYSE:CR opened at $116.94 on Wednesday. The firm's 50 day simple moving average is $104.06 and its 200 day simple moving average is $99.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.15 and a quick ratio of 0.97. Crane has a one year low of $82.14 and a one year high of $116.95. The company has a market cap of $6.57 billion, a PE ratio of 15.49, a P/E/G ratio of 1.52 and a beta of 1.51.
Crane (NYSE:CR – Get Rating) last posted its quarterly earnings results on Monday, January 23rd. The conglomerate reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.23. Crane had a return on equity of 24.43% and a net
margin of 13.10%. The business had revenue of $824.10 million for the quarter, compared to the consensus estimate of $819.89 million. During the same period in the prior year, the business earned $1.25 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts anticipate that Crane will post 8.13 earnings per share for the current year.
Insider Activity at Crane
In other Crane news, CEO Max H. Mitchell sold 117,103 shares of the business's stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $104.40, for a total value of $12,225,553.20. Following the completion of the transaction, the chief executive officer now directly owns 347,460 shares of the company's stock, valued at $36,274,824. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Crane news, SVP Kurt F. Gallo sold 2,750 shares of the company's stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $105.53, for a total value of $290,207.50. Following the completion of the sale, the senior vice president now directly owns 25,845 shares in the company, valued at approximately $2,727,422.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Max H. Mitchell sold 117,103 shares of the company's stock in a transaction on Monday, November 7th. The shares were sold at an average price of $104.40, for a total value of $12,225,553.20. Following the completion of the sale, the chief executive officer now owns 347,460 shares of the company's stock, valued at $36,274,824. The disclosure for this sale can be found here. Insiders have sold a total of 151,409 shares of company stock worth $15,809,162 over the last quarter. Insiders own 2.40% of the company's stock.
Institutional Investors Weigh In On Crane
A number of hedge funds have recently bought and sold shares of CR. Vanguard Group Inc. grew its stake in shares of Crane by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,472,630 shares of the conglomerate's stock valued at $391,534,000 after purchasing an additional 56,773 shares during the last quarter. LSV Asset Management raised its holdings in shares of Crane by 0.6% in the third quarter. LSV Asset Management now owns 1,629,882 shares of the conglomerate's stock worth $142,680,000 after acquiring an additional 10,127 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Crane by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 1,491,577 shares of the conglomerate's stock worth $161,508,000 after acquiring an additional 12,017 shares during the last quarter. State Street Corp raised its holdings in shares of Crane by 3.9% in the first quarter. State Street Corp now owns 1,382,235 shares of the conglomerate's stock worth $149,668,000 after acquiring an additional 51,792 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Crane by 1.9% in the third quarter. Thrivent Financial for Lutherans now owns 1,338,406 shares of the conglomerate's stock valued at $117,164,000 after purchasing an additional 24,930 shares during the period. Institutional investors and hedge funds own 70.83% of the company's stock.
Crane Company Profile
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Crane Holdings Co engages in the management of a subsidiary, which manufacture aerospace equipment, electronics systems, and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.
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