Crane (NYSE:CR) Announces Quarterly Dividend of $0.23

Crane (NYSE:CR) declared a quarterly dividend on Monday, January 27th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.23 per share by the conglomerate on Wednesday, March 12th. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. This is an increase from Crane’s previous quarterly dividend of $0.21.

Crane has a dividend payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Price Performance

Shares of NYSE:CR opened at $156.35 on Tuesday. The business has a fifty day moving average price of $163.69 and a 200-day moving average price 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. The company has a market capitalization of $8.95 billion, a PE ratio of 20.71, a PEG ratio of 1.93 and a beta of 1.22. Crane has a 1-year low of $110.49 and a 1-year high of $188.52.

Crane (NYSE:CR) last issued its earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. Crane had a net margin of 13.10% and a return on equity of 24.45%. During the same period in the previous year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CR. Deutsche Bank Aktiengesellschaft increased their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus reduced their price objective on Crane from $176.00 to $170.00 and set a “hold” rating for the company in a report on Friday. Finally, UBS Group upped their target price on shares of Crane from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crane has a consensus rating of “Moderate Buy” and a consensus target price of $166.80.

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.