Bank of New York Mellon Corp Has $346.94 Million Stock Position in Carrier Global Corporation (NYSE:CARR)

Bank of New York Mellon Corp lessened its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,472,286 shares of the company's stock after selling 143,666 shares during the period. Bank of New York Mellon Corp owned 0.63% of Carrier Global worth $346,943,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake 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 worth $88,000 after purchasing an additional 474 shares during the period. Bessemer Group Inc. boosted its stake in Carrier Global by 15.7% in the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after purchasing an additional 3,900 shares during the period. Ensign Peak Advisors Inc boosted its stake 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 worth $89,706,000 after purchasing an additional 285,803 shares during the period. Sowell Financial Services LLC acquired a new position in Carrier Global in the 1st quarter worth $234,000. Finally, Ritholtz Wealth Management boosted its stake in Carrier Global by 34.0% in the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock worth $252,000 after purchasing an additional 1,007 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Melius initiated coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 target price for the company. Royal Bank Of Canada upped their target price on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price target on the stock in a report on Tuesday, July 1st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and an average price target of $83.82.

Insider Buying and Selling

In other 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 transaction of $299,999,977.50. Following the completion of the transaction, the director owned 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.20% of the stock is currently owned by insiders.

Carrier Global Price Performance

Shares of NYSE CARR traded up $1.05 during trading hours on Thursday, hitting $76.94. 3,461,635 shares of the stock were exchanged, compared to its average volume of 4,690,213. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. The company has a market cap of $65.96 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 2.04 and a beta of 1.31. The company's fifty day simple moving average is $72.30 and its two-hundred day simple moving average is $67.51. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The firm's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.17%. The ex-dividend date is Monday, July 21st. Carrier Global's payout ratio is 13.93%.

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.