Crown Holdings, Inc. (NYSE:CCK) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in Crown Holdings, Inc. (NYSE:CCK) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,604 shares of the industrial products company’s stock after selling 533 shares during the period. PNC Financial Services Group Inc.’s holdings in Crown were worth $2,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Nisa Investment Advisors LLC raised its holdings in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 158 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 176 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 183 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is owned by company insiders.

Crown Price Performance

Shares of CCK opened at $92.58 on Tuesday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The firm has a 50-day simple moving average of $93.59 and a 200-day simple moving average of $86.84. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 114.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. On average, equities research analysts anticipate that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date is Thursday, November 14th. Crown’s payout ratio is 123.46%.

Analysts Set New Price Targets

CCK has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada boosted their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho set a $110.00 price target on shares of Crown in a research note on Friday, October 18th. Truist Financial boosted their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Loop Capital upped their target price on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

Crown Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.