Crane (NYSE:CR) Sees Large Volume Increase – Time to Buy?

Shares of Crane (NYSE:CR) saw unusually-strong trading volume on Friday . Approximately 171,502 shares changed hands during trading, a decline of 21% from the previous session’s volume of 216,177 shares.The stock last traded at $162.94 and had previously closed at $162.91.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CR. Deutsche Bank Aktiengesellschaft raised their price objective 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 note on Friday, January 3rd. Finally, Stifel Nicolaus dropped their price target on shares of Crane from $176.00 to $170.00 and set a “hold” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.80.

Crane Price Performance

The firm has a 50 day moving average of $164.24 and a 200-day moving average of $158.03. 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 company has a market cap of $9.34 billion, a P/E ratio of 21.59, a P/E/G ratio of 1.93 and a beta of 1.22.

Crane (NYSE:CR) last released its quarterly earnings data 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. The firm had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. On average, equities research analysts predict that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were given a dividend of $0.205 per share. The ex-dividend date was Friday, November 29th. This represents a $0.82 annualized dividend and a dividend yield of 0.50%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Institutional Investors Weigh In On Crane

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

About Crane

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.