Crane (CR) to Issue Quarterly Dividend of $0.23 on June 11th

Crane (NYSE:CR) declared a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.23 per share by the conglomerate on Wednesday, June 11th. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Friday, May 30th.

Crane has a payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 10.7%.

Crane Price Performance

Shares of Crane stock opened at $158.29 on Wednesday. The stock’s fifty day moving average is $150.39 and its 200 day moving average is $160.06. Crane has a one year low of $127.04 and a one year high of $188.52. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a market cap of $9.09 billion, a P/E ratio of 20.97, a P/E/G ratio of 1.93 and a beta of 1.31.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 28th. The conglomerate reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $557.60 million during the quarter, compared to the consensus estimate of $546.93 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. Sell-side analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Insider Buying and Selling at Crane

In related news, VP Alejandro Alcala sold 2,293 shares of Crane stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $170.96, for a total transaction of $392,011.28. Following the completion of the sale, the vice president now owns 32,963 shares in the company, valued at $5,635,354.48. This trade represents a 6.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $186.00 target price on Crane and gave the stock a “buy” rating in a research report on Monday, April 14th. StockNews.com lowered shares of Crane from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Stifel Nicolaus decreased their price target on shares of Crane from $170.00 to $144.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. DA Davidson restated a “buy” rating and issued a $200.00 target price on shares of Crane in a report on Tuesday, March 11th. Finally, UBS Group raised shares of Crane from a “neutral” rating to a “buy” rating and increased their price target for the company from $157.00 to $190.00 in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

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.