CX Institutional Sells 3,737 Shares of Carrier Global Co. (NYSE:CARR)

CX Institutional cut its holdings in Carrier Global Co. (NYSE:CARR) by 27.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,875 shares of the company’s stock after selling 3,737 shares during the quarter. CX Institutional’s holdings in Carrier Global were worth $626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. BOK Financial Private Wealth Inc. boosted its position in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after acquiring an additional 180 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $28,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $31,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $31,000. 91.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director now directly owns 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CARR shares. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Friday, May 9th. Robert W. Baird lifted their target price on shares of Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Finally, Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Carrier Global Trading Down 0.0%

Shares of NYSE CARR opened at $72.46 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The firm has a 50 day moving average price of $67.25 and a two-hundred day moving average price of $67.58. The stock has a market cap of $62.12 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down 3.7% on a year-over-year basis. As a group, equities analysts forecast that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

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. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global’s dividend payout ratio is currently 13.93%.

About Carrier Global

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.