Carrier Global Corporation (NYSE:CARR) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC lowered its stake in shares of Carrier Global Corporation (NYSE:CARR) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,762 shares of the company’s stock after selling 717 shares during the quarter. Western Wealth Management LLC’s holdings in Carrier Global were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Carrier Global in the 4th quarter valued at $588,029,000. Wealthfront Advisers LLC increased its holdings in shares of Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after acquiring an additional 4,915,826 shares during the period. Brown Advisory Inc. increased its holdings in shares of Carrier Global by 139.1% in the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock valued at $361,544,000 after acquiring an additional 3,080,984 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Carrier Global in the 4th quarter valued at $166,061,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Carrier Global in the 4th quarter valued at $108,433,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.20% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $73.70 on Friday. The firm has a market capitalization of $63.19 billion, a P/E ratio of 11.41, a PEG ratio of 2.07 and a beta of 1.33. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company’s fifty day moving average is $69.94 and its two-hundred day moving average is $67.23. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be given a dividend of $0.225 per share. The ex-dividend date is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. Carrier Global’s payout ratio is currently 13.93%.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent research reports. Citigroup cut their target price 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. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Friday, May 9th. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Robert W. Baird lifted their price objective on shares of Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.