Crane (NYSE:CR – Get Free Report) released its quarterly earnings results on Tuesday. The conglomerate reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.23, FiscalAI reports. Crane had a return on equity of 18.67% and a net margin of 12.97%. The company had revenue of $756.70 million during the quarter, compared to analysts’ expectations of $737.08 million.
Crane Trading Up 1.3%
Crane stock traded up $2.48 during midday trading on Tuesday, reaching $192.96. The stock had a trading volume of 745,225 shares, compared to its average volume of 474,730. Crane has a twelve month low of $159.58 and a twelve month high of $230.50. The stock has a market capitalization of $11.15 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.84 and a current ratio of 2.80. The stock’s 50-day simple moving average is $203.53 and its 200 day simple moving average is $198.34.
Insider Transactions at Crane
In other Crane news, Director James Tullis sold 400 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $205.38, for a total transaction of $82,152.00. Following the completion of the sale, the director directly owned 5,021 shares in the company, valued at $1,031,212.98. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.12% of the company’s stock.
Wall Street Analysts Forecast Growth
CR has been the subject of a number of recent research reports. DA Davidson reiterated a “buy” rating and set a $245.00 price target on shares of Crane in a report on Tuesday, September 15th. Stifel Nicolaus boosted their price objective on shares of Crane from $215.00 to $242.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of Crane from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft set a $240.00 target price on shares of Crane in a research report on Tuesday, September 1st. Finally, BMO Capital Markets initiated coverage on shares of Crane in a research report on Monday, July 20th. They set an “outperform” rating and a $253.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $239.00.
About Crane
Crane Company (NYSE: CR) is a diversified industrial technology company that develops and manufactures highly engineered products for aerospace, industrial, commercial and other specialized markets. The company serves customers worldwide through businesses focused on mission-critical components, systems and services.
Its Aerospace & Electronics segment supplies products such as sensing and control systems, aircraft components, power-management equipment and other electronic solutions for commercial and military aerospace applications.
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