Chevy Chase Trust Holdings LLC Sells 7,308 Shares of Carrier Global Co. (NYSE:CARR)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 454,251 shares of the company's stock after selling 7,308 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Carrier Global worth $36,563,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CARR. PineStone Asset Management Inc. lifted its holdings in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. FMR LLC increased its position in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock worth $702,603,000 after purchasing an additional 2,320,909 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Carrier Global in the second quarter valued at approximately $58,415,000. Mizuho Securities USA LLC lifted its position in Carrier Global by 1,428.4% during the third quarter. Mizuho Securities USA LLC now owns 987,500 shares of the company's stock valued at $79,484,000 after purchasing an additional 922,892 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company's stock worth $730,250,000 after buying an additional 897,061 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Northcoast Research initiated coverage on shares of Carrier Global in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Stephens cut their price objective on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Barclays decreased their target price on Carrier Global from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Wells Fargo & Company cut their price target on shares of Carrier Global from $82.00 to $76.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. Finally, Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.31.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.50 during trading on Tuesday, hitting $75.79. The company's stock had a trading volume of 1,028,133 shares, compared to its average volume of 4,206,744. Carrier Global Co. has a 12 month low of $52.28 and a 12 month high of $83.32. The company has a 50-day moving average of $77.75 and a 200-day moving average of $70.75. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 2.86 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, October 25th were paid a $0.19 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. Carrier Global's dividend payout ratio (DPR) is presently 19.24%.

Carrier Global announced that its board has approved a share repurchase program on Thursday, October 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Carrier Global Company 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.