STAMFORD, Conn. - Crane Company (NYSE:CR), a prominent industrial manufacturer, announced today the appointment of Susan D. Lynch as a new member of its Board of Directors. This strategic addition comes as the company continues to enhance its leadership team.
Ms. Lynch, with a notable career spanning over 25 years in financial roles, has been a part of the board of directors at Allegro MicroSystems and Onto Innovation (NYSE:ONTO) Inc. Her previous executive experience includes serving as Senior Vice President and Chief Financial Officer at V2X from August 2019 to September 2023, and similar roles at Sungard Availability Services and Hitachi (OTC:HTHIY) Data Systems. Her tenure at Raytheon (NYSE:RTN) Technical Services and Honeywell (NASDAQ:HON) further bolsters her extensive background in the aerospace and defense sectors.
Max H. Mitchell, Chairman, President, and CEO of Crane Company, expressed enthusiasm over Ms. Lynch's addition to the board. He highlighted her substantial financial expertise and her track record in senior leadership positions, which are expected to be invaluable to Crane's growth strategy and shareholder value enhancement.
Crane Company, founded in 1855, specializes in engineered components for demanding applications within the aerospace, defense, space, and process industries. With two strategic growth platforms, Aerospace & Electronics and Process Flow Technologies, and a global workforce of approximately 7,500, Crane is committed to innovation and technology-led solutions.
InvestingPro Insights
In light of the recent appointment of Susan D. Lynch to the Board of Directors at Crane Company (NYSE:CR), it's worth noting the company's current financial outlook as per InvestingPro data. Crane Company boasts a market capitalization of $8.04 billion and has displayed a solid revenue growth of 11.07% over the last twelve months as of Q2 2024. This indicates a robust financial performance that could be further enhanced by Ms. Lynch's financial expertise.
InvestingPro data also reveals a strong EBITDA growth of 61.89% in the same period, underscoring the company's effective operational management and profitability potential. Despite recent market volatility, with a 1-week price total return of -8.36%, Crane Company has maintained a commendable 1-year price total return of 63.59%, suggesting resilience and a positive long-term investor sentiment.
From the perspective of InvestingPro Tips, it's important to highlight that Crane Company has been consistent in rewarding its shareholders, maintaining dividend payments for an impressive 54 consecutive years. Additionally, the company is trading at a high earnings multiple, with a P/E ratio of 33.15, which could be of interest to investors looking for companies with high growth expectations.
For those interested in a deeper analysis, there are 13 additional InvestingPro Tips available that could provide further insights into Crane Company's financial health and future prospects. To explore these tips and gain a more comprehensive understanding of the company's investment potential, visit https://www.investing.com/pro/CR.
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