Invesco Ltd. Acquires 42,182 Shares of Crown Holdings, Inc. (NYSE:CCK)

Invesco Ltd. raised its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,672 shares of the industrial products company's stock after purchasing an additional 42,182 shares during the period. Invesco Ltd. owned 0.28% of Crown worth $27,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Crown by 160.0% during the 4th 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 period. GAMMA Investing LLC grew its holdings in shares of Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after purchasing an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after purchasing an additional 117 shares during 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 purchasing an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 647 shares in the last quarter. Institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CCK. Morgan Stanley raised Crown from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Truist Financial decreased their target price on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Bank of America decreased their price objective on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Crown presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.42.

Crown Trading Down 0.6 %

CCK stock traded down $0.56 on Wednesday, reaching $86.49. The company's stock had a trading volume of 843,260 shares, compared to its average volume of 1,196,682. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The business has a fifty day simple moving average of $87.19 and a two-hundred day simple moving average of $88.29. The firm has a market cap of $10.12 billion, a PE ratio of 24.26, a PEG ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.20%. Crown's payout ratio is currently 29.21%.

About Crown

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.