Stifel Nicolaus Has Lowered Expectations for Crane (NYSE:CR) Stock Price

Crane (NYSE:CR) had its target price lowered by Stifel Nicolaus from $176.00 to $170.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a hold rating on the conglomerate’s stock.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group increased their price target on Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.80.

Crane Stock Performance

Shares of CR opened at $161.21 on Friday. The firm has a fifty day simple moving average of $163.99 and a 200 day simple moving average of $158.16. Crane has a 12 month low of $110.49 and a 12 month high of $188.52. 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 stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.93 and a beta of 1.22.

Crane (NYSE:CR) last issued its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The business had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same period last year, the business posted $1.03 EPS. Crane’s revenue was up 12.7% on a year-over-year basis. Research analysts forecast that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a $0.205 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.82 annualized dividend and a dividend yield of 0.51%. Crane’s payout ratio is 18.06%.

Hedge Funds Weigh In On Crane

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its holdings in Crane by 16.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 655,470 shares of the conglomerate’s stock worth $103,748,000 after purchasing an additional 91,029 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Crane by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 585,718 shares of the conglomerate’s stock worth $92,707,000 after buying an additional 3,188 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Crane by 12.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock valued at $55,758,000 after purchasing an additional 42,743 shares during the period. AQR Capital Management LLC boosted its position in shares of Crane by 11.9% during the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock worth $27,902,000 after acquiring an additional 20,518 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Crane by 5.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 183,725 shares of the conglomerate’s stock valued at $29,080,000 after purchasing an additional 8,899 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

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.