Sumitomo Life Insurance Co. Sells 383 Shares of Crown Holdings, Inc. (NYSE:CCK)

Sumitomo Life Insurance Co. decreased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,353 shares of the industrial products company’s stock after selling 383 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Crown were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased 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 purchasing an additional 163 shares in the last quarter. Covestor Ltd grew its holdings in shares of 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 buying an additional 277 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Crown during the third quarter worth about $44,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown in the 3rd quarter worth about $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Crown in the 3rd quarter valued at about $55,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CCK shares. Wells Fargo & Company lowered their price objective on Crown from $88.00 to $86.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Loop Capital increased their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $109.00 to $105.00 in a report on Monday, January 13th. UBS Group lowered their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Citigroup upped their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.46.

Crown Stock Performance

NYSE:CCK opened at $87.83 on Thursday. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The business has a fifty day simple moving average of $86.20 and a two-hundred day simple moving average of $88.89. The company has a market capitalization of $10.51 billion, a P/E ratio of 108.44, a P/E/G ratio of 1.68 and a beta of 0.86.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by insiders.

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.