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

Raymond James Trust N.A. purchased a new position in Crown Holdings, Inc. (NYSE:CCK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,889 shares of the industrial products company’s stock, valued at approximately $277,000.

A number of other institutional investors have also recently made changes to their positions in CCK. GAMMA Investing LLC grew its position in Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares in the last quarter. Covestor Ltd increased its position in shares of Crown by 156.5% during the 3rd 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 last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Crown during the 3rd quarter valued at about $48,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Crown in the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. boosted its stake 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 buying an additional 385 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CCK shares. Loop Capital lifted their price target on shares of Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays boosted their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Finally, Citigroup lifted their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred 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 directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 1.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,506 shares of company stock worth $3,157,399. Corporate insiders own 0.90% of the company’s stock.

Crown Trading Up 0.9 %

NYSE:CCK opened at $93.02 on Thursday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a 50-day moving average price of $93.60 and a 200-day moving average price of $86.96. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 114.84, a P/E/G ratio of 2.05 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, beating 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 business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Equities analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend 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.