Northern Trust Corp Has $90.37 Million Stake in Crown Holdings, Inc. (NYSE:CCK)

Northern Trust Corp grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 32.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,092,911 shares of the industrial products company's stock after buying an additional 264,803 shares during the period. Northern Trust Corp owned 0.91% of Crown worth $90,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CCK. Farther Finance Advisors LLC increased its stake in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC raised its holdings in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock valued at $47,000 after buying an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock valued at $57,000 after buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock worth $68,000 after acquiring an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 647 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Trading Up 0.3 %

Shares of NYSE:CCK traded up $0.24 during midday trading on Thursday, reaching $97.34. The company had a trading volume of 769,137 shares, compared to its average volume of 1,198,849. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.48. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The company has a fifty day simple moving average of $88.65 and a two-hundred day simple moving average of $88.38.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. Crown's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. Research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 annualized dividend and a yield of 1.07%. Crown's dividend payout ratio is 22.37%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCK. Truist Financial reduced their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Mizuho lifted their price objective on shares of Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. UBS Group upped their target price on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Royal Bank of Canada lifted their price target on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $110.45.

Insider Activity

In related news, COO Gerard H. Gifford sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

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.