Atria Wealth Solutions Inc. Cuts Stake in Carrier Global Corporation (NYSE:CARR)

Key Points

• Atria Wealth Solutions Inc. has cut its position in Carrier Global Corporation by 16.7%, reducing its holdings to 28,091 shares after selling 5,632 shares during the first quarter.
• Director Maximilian Viessmann sold 4,267,425 shares of Carrier stock, valued at approximately $300 million, resulting in a 7.28% decrease in his ownership.
• Carrier Global recently reported earnings of $0.92 per share, exceeding analysts' expectations, with revenues reaching $6.11 billion during the quarter.

Atria Wealth Solutions Inc. decreased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,091 shares of the company's stock after selling 5,632 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Carrier Global were worth $1,781,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Carrier Global by 51.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock valued at $88,000 after purchasing an additional 474 shares during the period. Bessemer Group Inc. grew its position in Carrier Global by 15.7% in the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock valued at $1,823,000 after purchasing an additional 3,900 shares during the period. Ensign Peak Advisors Inc grew its position in Carrier Global by 27.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock valued at $89,706,000 after purchasing an additional 285,803 shares during the period. Sowell Financial Services LLC acquired a new stake in Carrier Global in the 1st quarter valued at $234,000. Finally, Ritholtz Wealth Management grew its position in Carrier Global by 34.0% in the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock valued at $252,000 after purchasing an additional 1,007 shares during the period. Institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Citigroup reissued a "buy" rating and issued a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Melius began coverage on Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective on the stock. Barclays dropped their price objective on Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company lifted their target price on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $1.26 during trading on Thursday, hitting $65.79. The stock had a trading volume of 3,743,222 shares, compared to its average volume of 5,287,545. The firm has a market cap of $55.99 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.81 and a beta of 1.25. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The business's 50-day moving average is $72.54 and its 200 day moving average is $68.13. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. As a group, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 21st were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, July 21st. Carrier Global's dividend payout ratio is 19.61%.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction that occurred 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 directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

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.