Raymond James Trust N.A. Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Raymond James Trust N.A. purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,889 shares of the industrial products company’s stock, valued at approximately $277,000.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Crown by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 163 shares during the period. Covestor Ltd lifted its position in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the period. Blue Trust Inc. boosted its holdings in Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 385 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Crown in the 3rd quarter worth approximately $48,000. Finally, Fifth Third Bancorp raised its stake in Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after buying an additional 176 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CCK shares. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Robert W. Baird upped their price target on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Truist Financial raised their price objective on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley upped their target price on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Crown Trading Up 0.9 %

Shares of CCK stock opened at $93.02 on Thursday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The stock has a fifty day simple moving average of $93.60 and a two-hundred day simple moving average of $86.96. The firm has a market capitalization of $11.13 billion, a PE ratio of 114.84, a PEG ratio of 2.05 and a beta of 0.85. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46.

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

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. Crown’s dividend payout ratio is 123.46%.

Insider Activity at Crown

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

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.