PNC Financial Services Group Inc. Sells 533 Shares of Crown Holdings, Inc. (NYSE:CCK)

PNC Financial Services Group Inc. decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sessa Capital IM L.P. increased its holdings in shares of Crown by 153.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares during the last quarter. Metropolis Capital Ltd raised its stake in shares of Crown by 269.7% during the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after acquiring an additional 1,062,001 shares in the last quarter. 1832 Asset Management L.P. raised its position in Crown by 31.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after purchasing an additional 473,000 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Crown by 7.8% during the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after acquiring an additional 412,973 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Crown by 121.7% during the 2nd quarter. AQR Capital Management LLC now owns 736,478 shares of the industrial products company’s stock valued at $54,787,000 after purchasing an additional 404,250 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Mizuho set a $110.00 target price on Crown in a research note on Friday, October 18th. Royal Bank of Canada raised their price target on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price target on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the sale, the chief executive officer now owns 578,678 shares in the company, valued at approximately $52,416,653.24. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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. Insiders have sold a total of 33,506 shares of company stock valued at $3,157,399 over the last quarter. 0.90% of the stock is owned by company insiders.

Crown Stock Down 0.3 %

Shares of CCK opened at $92.58 on Tuesday. The stock has a fifty day simple moving average of $93.59 and a two-hundred day simple moving average of $86.84. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $11.08 billion, a PE ratio of 114.30, a price-to-earnings-growth ratio of 2.06 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 quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The firm had revenue of $3.07 billion for 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%. As a group, equities analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Dividend Announcement

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

Crown Company 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.