Hunter Associates Investment Management LLC Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Hunter Associates Investment Management LLC reduced its holdings in Carrier Global Co. (NYSE:CARR) by 4.5% during the 4th quarter, Holdings Channel reports. The fund owned 21,458 shares of the company’s stock after selling 1,000 shares during the period. Hunter Associates Investment Management LLC’s holdings in Carrier Global were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. boosted its holdings in Carrier Global by 19.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 11,862 shares of the company’s stock worth $681,000 after buying an additional 1,897 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new stake in Carrier Global during the fourth quarter worth $2,081,000. Sterling Financial Planning Inc. acquired a new position in Carrier Global during the fourth quarter worth $287,000. Fidelis Capital Partners LLC raised its position in Carrier Global by 11.7% during the fourth quarter. Fidelis Capital Partners LLC now owns 8,035 shares of the company’s stock worth $462,000 after acquiring an additional 841 shares during the period. Finally, AIA Group Ltd raised its position in Carrier Global by 16.5% during the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after acquiring an additional 14,003 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Up 0.3 %

Carrier Global stock traded up $0.15 during midday trading on Friday, hitting $53.53. 3,576,716 shares of the stock were exchanged, compared to its average volume of 3,587,698. Carrier Global Co. has a fifty-two week low of $40.28 and a fifty-two week high of $60.87. The stock has a market capitalization of $48.18 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.25 and a beta of 1.39. The stock’s 50-day simple moving average is $56.36 and its 200 day simple moving average is $54.74. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the business earned $0.40 earnings per share. Carrier Global’s revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is currently 48.10%.

Insider Buying and Selling

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CARR. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Oppenheimer restated an “outperform” rating and set a $63.00 price objective on shares of Carrier Global in a research report on Thursday. Citigroup upped their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays upped their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus price target of $61.15.

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.