Crane (NYSE:CR) Short Interest Update

Crane (NYSE:CR) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 630,900 shares, a decline of 6.5% from the May 31st total of 675,000 shares. Based on an average daily trading volume, of 207,100 shares, the days-to-cover ratio is presently 3.0 days. Approximately 1.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CR. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $157.00 target price on shares of Crane in a research report on Wednesday, May 15th. Bank of America increased their price target on Crane from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. UBS Group increased their price target on Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Finally, StockNews.com raised Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.67.

Crane Price Performance

Shares of CR stock traded down $0.14 during trading hours on Tuesday, reaching $142.89. The company’s stock had a trading volume of 325,094 shares, compared to its average volume of 234,267. The firm’s 50 day simple moving average is $144.38 and its 200-day simple moving average is $131.42. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 1.93 and a beta of 0.87. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $150.01. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last issued its earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, May 31st. Crane’s dividend payout ratio (DPR) is 21.98%.

Institutional Investors Weigh In On Crane

Several hedge funds have recently modified their holdings of CR. Covestor Ltd lifted its holdings in Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock worth $30,000 after buying an additional 131 shares during the period. Fifth Third Bancorp raised its position in shares of Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 99 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Crane in the 4th quarter worth about $90,000. SkyOak Wealth LLC bought a new position in shares of Crane in the 1st quarter worth about $203,000. Finally, Sutton Place Investors LLC bought a new position in shares of Crane in the 1st quarter worth about $206,000. Institutional investors and hedge funds 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.