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

Bank of New York Mellon Corp reduced its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Bessemer Group Inc. raised its stake in shares of Carrier Global by 15.7% during 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 in the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Carrier Global by 27.8% during 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 last quarter. Sowell Financial Services LLC bought a new stake in shares of Carrier Global in the 1st quarter valued at about $234,000. Ritholtz Wealth Management raised its holdings in shares of 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. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Carrier Global by 15.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 552,713 shares of the company's stock valued at $35,042,000 after purchasing an additional 75,555 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is currently owned by corporate insiders.

Carrier Global Trading Up 0.0%

Shares of Carrier Global stock opened at $75.29 on Monday. The firm's 50-day moving average price is $71.47 and its two-hundred day moving average price is $67.36. The company has a market capitalization of $64.55 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 2.09 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32.

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

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.20%. Carrier Global's dividend payout ratio (DPR) is currently 13.93%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CARR shares. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price target on the stock in a research note on Tuesday, July 1st. Robert W. Baird increased 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. Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Friday, May 9th. Royal Bank Of Canada increased their price target 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. Finally, Melius assumed coverage on Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.82.

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.

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