Crane (NYSE:CR – Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Monday, November 30th will be paid a dividend of $0.2550 per share by the conglomerate on Wednesday, December 9th. This represents a $1.02 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, November 30th.
Crane has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Crane to earn $7.76 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 13.1%.
Crane Trading Up 2.9%
Shares of NYSE CR opened at $198.50 on Wednesday. The stock has a fifty day moving average price of $203.02 and a 200 day moving average price of $198.33. Crane has a 12-month low of $159.58 and a 12-month high of $230.50.
Crane (NYSE:CR – Get Free Report) last issued its earnings results on Tuesday, October 27th. The conglomerate reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.23. The company had revenue of $756.70 million for the quarter, compared to analyst estimates of $737.08 million. During the same period last year, the business earned $1.64 EPS. The company’s quarterly revenue was up 28.1% on a year-over-year basis. On average, equities analysts expect that Crane will post 6.99 earnings per share for the current fiscal year.
Insider Transactions at Crane
In other Crane news, Director James Tullis sold 614 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $225.00, for a total transaction of $138,150.00. Following the completion of the sale, the director owned 5,421 shares in the company, valued at approximately $1,219,725. The trade was a 10.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.12% of the company’s stock.
Hedge Funds Weigh In On Crane
Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in Crane by 403.2% in the second quarter. IFP Advisors Inc now owns 624 shares of the conglomerate’s stock valued at $139,000 after purchasing an additional 500 shares in the last quarter. Azimuth Capital Investment Management LLC bought a new position in shares of Crane during the second quarter worth $202,000. Asset Advisory Group Inc. acquired a new position in shares of Crane in the 2nd quarter valued at $205,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Crane in the 2nd quarter valued at $236,000. Finally, LifeGoal Investments LLC bought a new stake in shares of Crane in the 3rd quarter valued at $217,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Crane Company Profile
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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