Bank of New York Mellon Corp Trims Stock Holdings in Carrier Global Corporation (NYSE:CARR)

Bank of New York Mellon Corp cut its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 about 0.63% of Carrier Global worth $346,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CARR. BOK Financial Private Wealth Inc. lifted its position in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after purchasing an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Carrier Global in the fourth quarter valued at about $28,000. Investment Research & Advisory Group Inc. purchased a new position in shares of Carrier Global in the first quarter valued at about $29,000. Finally, Mattson Financial Services LLC purchased a new position in shares of Carrier Global in the fourth quarter valued at about $31,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.20% of the company's stock.

Carrier Global Trading Down 1.3%

NYSE CARR traded down $1.01 during trading hours on Monday, hitting $74.64. 2,857,524 shares of the company were exchanged, compared to its average volume of 4,679,748. The stock has a market cap of $63.99 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.09 and a beta of 1.31. The stock has a 50-day moving average price of $71.47 and a 200 day moving average price of $67.36. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. 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 (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be paid 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 1.21%. Carrier Global's dividend payout ratio is 13.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CARR shares. Barclays boosted their price objective on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Melius started coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective on the stock. Northcoast Research upgraded 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 target price on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Six investment 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 stock. According to data from MarketBeat.com, the company presently has an average 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.