Crane Holdings, Co. (NYSE:CR – Get 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.
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
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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