CRANE CO. (CR) Stocks
ABOUT CRANE CO.
The Crane Company (Crane Co.) is an industrial products company. It operates as a holding company divided into several business sectors – Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics as well as Engineered Materials.
The company’s portfolio offers a wide variety of highly engineered products to several markets, including vending machines, currency technology and printing, commercial construction, general and commercial aviation, food and beverage, sensing and control systems, power generation and chemical industries. These markets include transportation, aerospace and defense, chemical, oil and gas, bill validation and counterfeit detection as well as pharmaceutical.
Crane Co. is headquartered in Stamford, Connecticut. The company has more than 11 000 employees working in its facilities across the United States.
HISTORY OF CRANE CO.
- In 1855 the R.T. Crane Brass & Bell Foundry is founded in Chicago. The company produces fittings, valves and other specialty products.
- In 1870 the company invents machines for manufacturing and a conveyor system for metal pouring and mold moving. By the 1880’s Crane operates four manufacturing sites and has over 1 500 employees.
- In 1885 the company is renamed Crane Co. It builds a modern factory in 1912, powered wholly by electricity, on 160 acres. Crane Co. lists on the New York stock Exchange in 1936.
- During the Second World War the company provides approximately 1 500 to 15 000 valves for each war ship, totaling at nearly 25 000 tons every year.
- In 1951 Crane offers flow control products used in aircrafts. During the 1960’s Crane Co. buys several businesses to expand its portfolio, including Cochrane Corporation, Chapman Valve and Deming Company. A year later the company starts expanding to France, Italy, Mexico, the Netherlands, Canada, England and the rest of the United States. It now owns fifty manufacturing sites. In 1969 the company’s pumps are used in space programs Gemini and Apollo. It supplies braking systems for a NASA space shuttle in 1981.
- Four years later the company buys UniDynamics which consists of several segments including Merchandising Systems and Engineered Materials, as well as Resistoflex which will later become Crane’s Fluid Handling sector.
- The purchase of MEI Conlux Holdings in 2013 is the largest acquisition to date in the company’s history.
VISION & VALUES OF CRANE CO.
- Crane Co. is committed to its shareholder, customers, community and employees. The company conducts business with high moral standards and offers high quality products at fair prices.
- The company is known for offering some of the best shareholder returns. The company values the safety of its employees and surrounding communities, respect and integrity.
MARKET PERFORMANCE OF CRANE CO.
- Crane Co. trades on the New York Stock Exchange under the NYSE stock symbol “CR”.
- Data analysis for the company’s quarterly period ending June 30, 2019 reports an operating profit of US Dollar 122.8 million. Net sales are US Dollar 841.6 million and cost of sales are US Dollar 535.0 million.
- Net income attributable to common shareholders is US Dollar 91.0 million. Dividends are US Dollar 0.39 per share.