Crane (NYSE:CR) Declares Quarterly Dividend of $0.26

Crane (NYSE:CR) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 30th will be given a dividend of $0.2550 per share by the conglomerate on Wednesday, December 9th. This represents a $1.02 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, November 30th.

Crane has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Research 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 CR opened at $198.50 on Wednesday. The stock has a 50 day simple moving average of $203.02 and a 200 day simple moving average of $198.33. Crane has a 52-week low of $159.58 and a 52-week high of $230.50.

Crane (NYSE:CR) last announced its earnings results on Tuesday, October 27th. The conglomerate reported $2.05 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business posted $1.64 earnings per share. The business’s quarterly revenue was up 28.1% on a year-over-year basis. As a group, equities research analysts anticipate that Crane will post 6.99 earnings per share for the current fiscal year.

Insider Activity

In other Crane news, Director James Tullis sold 400 shares of Crane stock in a transaction on Monday, August 31st. The shares were sold at an average price of $205.38, for a total value of $82,152.00. Following the sale, the director directly owned 5,021 shares in the company, valued at approximately $1,031,212.98. The trade was a 7.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.12% of the stock is owned by company insiders.

Institutional Trading of Crane

Several institutional investors and hedge funds have recently bought and sold shares of CR. IFP Advisors Inc grew 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 stake in Crane during the second quarter worth $202,000. Asset Advisory Group Inc. bought a new position in shares of Crane in the 2nd quarter valued at about $205,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Crane during the 2nd quarter worth about $236,000. Finally, LifeGoal Investments LLC bought a new stake in shares of Crane in the 3rd quarter valued at about $217,000. Institutional investors own 75.14% of the company’s stock.

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.