Cacti Asset Management LLC Sells 38,840 Shares of Carrier Global Co. (NYSE:CARR)

Cacti Asset Management LLC trimmed its stake in shares of Carrier Global Co. (NYSE:CARR) by 93.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,900 shares of the company’s stock after selling 38,840 shares during the period. Cacti Asset Management LLC’s holdings in Carrier Global were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Geode Capital Management LLC boosted its holdings in Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock worth $1,181,300,000 after purchasing an additional 420,081 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Carrier Global by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock worth $977,028,000 after buying an additional 46,222 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Carrier Global by 16.7% in the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock worth $603,922,000 after buying an additional 1,266,137 shares during the last quarter. Norges Bank bought a new stake in shares of Carrier Global in the fourth quarter worth $588,029,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Carrier Global by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company’s stock worth $473,046,000 after acquiring an additional 936,892 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 1.8%

NYSE:CARR opened at $71.05 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a market cap of $60.91 billion, a PE ratio of 11.31, a P/E/G ratio of 2.01 and a beta of 1.33. The company’s 50 day moving average is $65.50 and its two-hundred day moving average is $67.89.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were issued a dividend of $0.225 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Analysts Set New Price Targets

A number of research firms have weighed in on CARR. The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Citigroup reduced their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. raised their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, May 9th. Finally, Mizuho set a $72.00 target price on shares of Carrier Global in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

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.