Burling Wealth Partners LLC Lowers Stock Holdings in Carrier Global Corporation (NYSE:CARR)

Burling Wealth Partners LLC reduced its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 26.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,058 shares of the company's stock after selling 7,860 shares during the quarter. Burling Wealth Partners LLC's holdings in Carrier Global were worth $1,398,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CARR. Ritter Daniher Financial Advisory LLC DE grew its stake 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 acquired a new position in Carrier Global during the fourth quarter worth about $28,000. Investment Research & Advisory Group Inc. bought a new position in Carrier Global in the 1st quarter valued at approximately $29,000. Mattson Financial Services LLC bought a new stake in Carrier Global during the 4th quarter worth $31,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock worth $33,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a report on Tuesday. Citigroup restated a "buy" rating and issued a $89.00 price target (up from $82.00) on shares of Carrier Global in a report on Monday. 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 report on Friday, May 9th. Wells Fargo & Company raised their target price on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, Melius initiated coverage on Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.65.

Carrier Global Stock Performance

NYSE:CARR traded up $1.49 during trading on Thursday, reaching $76.92. The company's stock had a trading volume of 2,778,030 shares, compared to its average volume of 4,678,462. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The firm has a market cap of $65.95 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31. The firm has a 50 day moving average of $73.00 and a 200-day moving average of $67.81. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion during 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 firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be given 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 1.17%. Carrier Global's dividend payout ratio is presently 13.93%.

Insider Activity

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's 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 completion of the transaction, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is currently owned by company insiders.

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.