Fintel reports that on September 28, 2023, Deutsche Bank initiated coverage of Crane (NYSE:CR) with a Buy recommendation.
Analyst Price Forecast Suggests 27.80% Upside
As of August 31, 2023, the average one-year price target for Crane is 110.42. The forecasts range from a low of 82.82 to a high of $147.00. The average price target represents an increase of 27.80% from its latest reported closing price of 86.40.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crane is 3,557MM, an increase of 6.84%. The projected annual non-GAAP EPS is 8.41.
Crane Declares $0.18 Dividend
On July 25, 2023 the company declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Shareholders of record as of August 31, 2023 received the payment on September 13, 2023. Previously, the company paid $0.18 per share.
At the current share price of $86.40 / share, the stock's dividend yield is 0.83%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.07%, the lowest has been 0.81%, and the highest has been 4.45%. The standard deviation of yields is 0.53 (n=235).
The current dividend yield is 2.33 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.58%.
What is the Fund Sentiment?
There are 660 funds or institutions reporting positions in Crane. This is an increase of 532 owner(s) or 415.62% in the last quarter. Average portfolio weight of all funds dedicated to CR is 0.22%, an increase of 7.84%. Total shares owned by institutions increased in the last three months by 3.79% to 50,390K shares. 
The put/call ratio of CR is 0.97, indicating a bullish outlook.
What are Other Shareholders Doing?
SMCWX - SMALLCAP WORLD FUND INC holds 2,251K shares representing 3.97% ownership of the company. In it's prior filing, the firm reported owning 74K shares, representing an increase of 96.70%. The firm increased its portfolio allocation in CR by 3,332.53% over the last quarter.
Capital World Investors holds 1,891K shares representing 3.33% ownership of the company.
FLPSX - Fidelity Low-Priced Stock Fund holds 1,837K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 1,412K shares, representing an increase of 23.14%. The firm increased its portfolio allocation in CR by 66.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,501K shares representing 2.65% ownership of the company.
IJH - iShares Core S&P Mid-Cap ETF holds 1,463K shares representing 2.58% ownership of the company.
Crane Holdings Background Information
(This description is provided by the company.)
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia.
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