Carrier Global Co. (NYSE:CARR) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 441,956 shares of the company's stock after selling 12,295 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Carrier Global were worth $30,168,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CARR. FSA Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $28,000. McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company's stock valued at $35,000 after purchasing an additional 310 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Carrier Global in the 3rd quarter valued at $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Carrier Global in the 3rd quarter valued at $44,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Carrier Global in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CARR. Wells Fargo & Company cut their price objective on Carrier Global from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada cut their price objective on Carrier Global from $86.00 to $76.00 and set an "outperform" rating on the stock in a report on Wednesday, February 12th. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Finally, Mizuho upgraded Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price objective on the stock in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $82.64.

Carrier Global Stock Down 0.9 %

Shares of NYSE:CARR traded down $0.57 on Wednesday, hitting $66.02. 5,168,329 shares of the company's stock were exchanged, compared to its average volume of 5,929,130. The firm's 50-day moving average is $67.89 and its 200 day moving average is $72.34. The company has a market capitalization of $57.33 billion, a PE ratio of 10.51, a P/E/G ratio of 1.90 and a beta of 1.35. Carrier Global Co. has a 1-year low of $53.13 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the previous year, the company posted $0.53 earnings per share. Sell-side analysts predict that Carrier Global Co. will post 2.98 EPS for the current year.

Carrier Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a dividend of $0.225 per share. This is a boost from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, December 20th. Carrier Global's dividend payout ratio is currently 14.33%.

Carrier Global declared that its board has initiated a stock buyback program on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.