Crane Holdings, Co. (NYSE:CR) Announces Quarterly Dividend of $0.47

Crane Holdings, Co. (NYSE:CRGet Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Tuesday, February 28th will be given a dividend of 0.47 per share by the conglomerate on Wednesday, March 8th. This represents a $1.88 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, February 27th.

Crane has increased its dividend payment by an average of 14.6% annually over the last three years and has raised its dividend every year for the last 1 years. Crane has a dividend payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Crane to earn $8.56 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 22.0%.

Crane Price Performance

Shares of Crane stock opened at $115.50 on Wednesday. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.38. The stock has a 50 day moving average price of $103.55 and a 200-day moving average price of $99.03. Crane has a one year low of $82.14 and a one year high of $116.11.

Crane (NYSE:CRGet Rating) last issued its earnings results on Monday, January 23rd. The conglomerate reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. The business had revenue of $824.10 million during the quarter, compared to analyst estimates of $819.89 million. Crane had a return on equity of 24.93% and a net margin of 13.10%. Crane’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. Equities analysts expect that Crane will post 8.13 EPS for the current year.

Insider Buying and Selling at Crane

In other Crane news, CFO Richard A. Maue sold 5,907 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $104.31, for a total transaction of $616,159.17. Following the sale, the chief financial officer now owns 79,147 shares in the company, valued at approximately $8,255,823.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Max H. Mitchell sold 117,103 shares of the business’s stock in a transaction dated 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 owns 347,460 shares of the company’s stock, valued at approximately $36,274,824. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard A. Maue sold 5,907 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $104.31, for a total value of $616,159.17. Following the completion of the transaction, the chief financial officer now directly owns 79,147 shares of the company’s stock, valued at approximately $8,255,823.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,409 shares of company stock worth $15,809,162. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crane

A number of large investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Crane during the third quarter valued at approximately $654,000. Captrust Financial Advisors raised its holdings in shares of Crane by 69.8% during the third quarter. Captrust Financial Advisors now owns 2,832 shares of the conglomerate’s stock valued at $248,000 after acquiring an additional 1,164 shares during the last quarter. BNP Paribas Arbitrage SNC acquired a new position in shares of Crane during the third quarter valued at approximately $407,000. Vanguard Group Inc. raised its holdings in shares of Crane by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,472,630 shares of the conglomerate’s stock valued at $391,534,000 after acquiring an additional 56,773 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Crane by 10.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 28,669 shares of the conglomerate’s stock valued at $2,511,000 after acquiring an additional 2,619 shares during the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.

Analyst Ratings Changes

CR has been the subject of a number of research analyst reports. TheStreet raised Crane from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. Stifel Nicolaus decreased their target price on Crane from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Morgan Stanley upgraded Crane from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $116.00 to $129.00 in a report on Monday, December 12th. StockNews.com downgraded Crane from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 26th. Finally, DA Davidson boosted their target price on Crane from $130.00 to $140.00 in a research note on Wednesday. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, Crane presently has a consensus rating of “Buy” and a consensus target price of $128.75.

Crane Company Profile

(Get Rating)

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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Dividend History for Crane (NYSE:CR)

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