Carrier Global Corporation $CARR Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,630 shares of the company’s stock after selling 2,396 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Carrier Global were worth $31,079,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Accredited Wealth Management LLC acquired a new position in Carrier Global during the 1st quarter valued at approximately $28,000. Investment Research & Advisory Group Inc. acquired a new position in Carrier Global during the 1st quarter valued at approximately $29,000. REAP Financial Group LLC acquired a new position in Carrier Global during the 2nd quarter valued at approximately $29,000. Graybill Wealth Management LTD. acquired a new position in Carrier Global during the 1st quarter valued at approximately $38,000. Finally, Cheviot Value Management LLC acquired a new position in Carrier Global during the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Down 1.0%

CARR stock opened at $56.21 on Friday. The company’s 50-day simple moving average is $62.09 and its 200-day simple moving average is $66.93. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $82.18. The firm has a market cap of $47.84 billion, a P/E ratio of 12.25, a PEG ratio of 1.82 and a beta of 1.25.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Carrier Global’s dividend payout ratio is presently 19.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CARR. Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Wolfe Research cut their price objective on shares of Carrier Global from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of Carrier Global from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. JPMorgan Chase & Co. cut their price objective on shares of Carrier Global from $76.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Citigroup cut their price objective on shares of Carrier Global from $89.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.67.

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.