Chevy Chase Trust Holdings LLC Cuts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Chevy Chase Trust Holdings LLC lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,595 shares of the basic materials company's stock after selling 2,217 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Air Products and Chemicals worth $36,501,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth approximately $25,000. Iron Horse Wealth Management LLC grew its position in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 55 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Air Products and Chemicals during the second quarter worth about $32,000. Prospera Private Wealth LLC purchased a new position in Air Products and Chemicals in the 3rd quarter valued at about $42,000. Finally, Trifecta Capital Advisors LLC boosted its stake in Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company's stock worth $37,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on APD. Mizuho boosted their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. The Goldman Sachs Group upped their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a "buy" rating in a report on Monday, August 5th. Redburn Atlantic upgraded Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 price target on the stock in a report on Friday, October 25th. Finally, Barclays raised their price objective on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus target price of $331.53.

Air Products and Chemicals Stock Down 1.7 %

Shares of APD traded down $5.75 during midday trading on Tuesday, reaching $329.87. The stock had a trading volume of 486,562 shares, compared to its average volume of 1,608,369. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00. The company has a market cap of $73.36 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company's fifty day simple moving average is $315.16 and its two-hundred day simple moving average is $286.11.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals's dividend payout ratio (DPR) is 41.21%.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.