Stifel Nicolaus Increases Crane (NYSE:CR) Price Target to $150.00

Crane (NYSE:CR) had its target price boosted by Stifel Nicolaus from $135.00 to $150.00 in a research report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the conglomerate’s stock.

CR has been the subject of a number of other reports. Bank of America lifted their price objective on Crane from $110.00 to $140.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. StockNews.com lowered shares of Crane from a buy rating to a hold rating in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $125.00.

Crane Price Performance

Shares of CR stock opened at $129.54 on Wednesday. Crane has a 1 year low of $67.28 and a 1 year high of $139.34. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $129.57 and its 200-day moving average is $114.60. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, January 29th. The conglomerate reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. The firm had revenue of $532.90 million during the quarter, compared to analysts’ expectations of $519.55 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Sell-side analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were paid a $0.205 dividend. The ex-dividend date was Wednesday, February 28th. This is a boost from Crane’s previous quarterly dividend of $0.18. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.63%. Crane’s dividend payout ratio is 22.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its holdings in Crane by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,853 shares of the conglomerate’s stock worth $1,608,000 after purchasing an additional 1,104 shares during the period. American Century Companies Inc. lifted its holdings in Crane by 3.0% during the first quarter. American Century Companies Inc. now owns 10,432 shares of the conglomerate’s stock worth $1,129,000 after acquiring an additional 299 shares in the last quarter. HighTower Advisors LLC grew its stake in Crane by 82.1% in the first quarter. HighTower Advisors LLC now owns 4,102 shares of the conglomerate’s stock valued at $445,000 after acquiring an additional 1,849 shares during the period. Citigroup Inc. increased its holdings in shares of Crane by 4.7% in the first quarter. Citigroup Inc. now owns 7,856 shares of the conglomerate’s stock worth $851,000 after acquiring an additional 355 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Crane by 1.1% during the first quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock worth $1,408,000 after purchasing an additional 136 shares during the period. Institutional investors own 75.14% of the company’s stock.

Crane Company Profile

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.