Crane (NYSE:CR) Shares Gap Up on Earnings Beat

Shares of Crane (NYSE:CR) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $156.44, but opened at $164.55. Crane shares last traded at $171.54, with a volume of 68,510 shares trading hands.

The conglomerate reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same quarter in the prior year, the business posted $0.90 earnings per share.

Crane Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th will be given a $0.23 dividend. This is an increase from Crane’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 0.53%. Crane’s dividend payout ratio is currently 18.06%.

Analyst Ratings Changes

CR has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. UBS Group raised their target price on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus decreased their price target on shares of Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Crane currently has a consensus rating of “Moderate Buy” and an average price target of $166.80.

Institutional Investors Weigh In On Crane

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CR. Matrix Trust Co bought a new stake in shares of Crane in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Crane in the third quarter valued at $28,000. ORG Wealth Partners LLC acquired a new position in shares of Crane in the 3rd quarter worth $30,000. UMB Bank n.a. lifted its position in shares of Crane by 81.8% in the third quarter. UMB Bank n.a. now owns 220 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Crane during the third quarter worth $37,000. Institutional investors own 75.14% of the company’s stock.

Crane Stock Up 10.6 %

The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.93 and a beta of 1.22. The business has a fifty day moving average of $163.69 and a 200 day moving average of $158.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

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.