Crane (CR) Declares $0.18 Dividend
Crane said on October 23, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Previously, the company paid $0.18 per share.
Shares must be purchased before the ex-div date of November 29, 2023 to qualify for the dividend. Shareholders of record as of November 30, 2023 will receive the payment on December 13, 2023.
At the current share price of $91.24 / share, the stock's dividend yield is 0.79%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.06%, the lowest has been 0.79%, and the highest has been 4.45%. The standard deviation of yields is 0.55 (n=235).
The current dividend yield is 2.31 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.13. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is -0.58%.
What is the Fund Sentiment?
There are 691 funds or institutions reporting positions in Crane. This is a decrease of 114 owner(s) or 14.16% in the last quarter. Average portfolio weight of all funds dedicated to CR is 0.22%, a decrease of 10.34%. Total shares owned by institutions increased in the last three months by 4.74% to 51,542K shares. 
The put/call ratio of CR is 2.13, indicating a bearish outlook.
Analyst Price Forecast Suggests 15.37% Upside
As of October 4, 2023, the average one-year price target for Crane is 105.26. The forecasts range from a low of 82.82 to a high of $123.90. The average price target represents an increase of 15.37% from its latest reported closing price of 91.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crane is 3,557MM, an increase of 5.26%. The projected annual non-GAAP EPS is 8.41.
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.
Additional reading:
- Crane NXT, Co. Announces Strong Second Quarter Results and Raises 2023 Guidance
- Crane NXT, Co. Announces Appointment of David D. Petratis to Board of Directors
- Crane NXT, Co. Reports Strong First Quarter 2023 Results and Raises Full-Year Outlook
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