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

Crane (NYSE:CR) declared a quarterly dividend on Monday, January 27th,RTT News reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.23 per share by the conglomerate on Wednesday, March 12th. This represents a $0.92 annualized dividend and a dividend 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 3.3 %

Shares of NYSE:CR opened at $156.35 on Tuesday. The stock has a 50 day moving average of $163.69 and a 200 day moving average of $158.47. The company has a market cap of $8.95 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. Crane has a 12-month low of $110.49 and a 12-month high of $188.52. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.90 earnings per share. As a group, equities research analysts expect that Crane will post 7.87 EPS for the current year.

Wall Street Analysts Forecast Growth

CR has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price target on Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, UBS Group boosted their target price on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Crane has a consensus rating of “Moderate Buy” and a consensus target price of $166.80.

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.