Why Crane Shares Soared Higher This Week
Industrial conglomerate Crane (NYSE: CR) overhauled its operations earlier this year, splitting off some of its tech as a separate company. This week, the market got an update on how the post-split Crane is performing, and investors liked what they saw.
As of Friday afternoon, shares of Crane are up more than 10% for the week, according to data provided by S&P Global Market Intelligence, after strong earnings and an optimistic forecast for what is to come.
Crane is a manufacturer of valves, pumps, and other highly engineered components for the aerospace, defense, electronics, and fluid control sectors. In April, the company separated its asset-tracking and monitoring business as Crane NXT, allowing management to focus its resources on building its core offerings.
Source Fool.com
