×

Crane shares soar after earnings beat

Commercial airplane taking off
Greg Bajor | Getty Images

Shares of Crane climbed more than 11 percent on Tuesday after the company reported earnings that beat analysts' estimates.

Crane, a manufacturer of engineered industrial products, released earnings of $1.07 per share, beating Wall Street's expectations of $1.01, according to a consensus from Thomson Reuters. The company raised its yearly earnings per share guidance to between $4.12 per share and $4.20 per share.

The stock saw its best day since February 2015 when it gained 9.96 percent.

Crane is a member of the CNBC's new IQ 100 Index that's weighted according to each member's ability to invest in, develop, control and deploy innovative, intellectual property.