Wesbanco Bank Inc. Trims Holdings in Carrier Global Co. (NYSE:CARR)

Wesbanco Bank Inc. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 1.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 45,038 shares of the company’s stock after selling 632 shares during the quarter. Wesbanco Bank Inc.’s holdings in Carrier Global were worth $2,855,000 at the end of the most recent reporting period.

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

Carrier Global Stock Performance

Shares of NYSE CARR opened at $71.78 on Tuesday. The firm has a fifty day moving average price of $66.41 and a 200-day moving average price of $67.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The stock has a market cap of $61.54 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32.

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

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were paid a $0.225 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.25%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the transaction, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Citigroup dropped their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. Wells Fargo & Company raised their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Finally, Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently 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.