Cacti Asset Management LLC Sells 38,840 Shares of Carrier Global Co. (NYSE:CARR)

Cacti Asset Management LLC reduced its position in Carrier Global Co. (NYSE:CARR - Free Report) by 93.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,900 shares of the company's stock after selling 38,840 shares during the period. Cacti Asset Management LLC's holdings in Carrier Global were worth $184,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after acquiring an additional 420,081 shares during the period. Fisher Asset Management LLC grew its position in shares of Carrier Global by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company's stock valued at $977,028,000 after purchasing an additional 46,222 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Carrier Global by 16.7% in the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after purchasing an additional 1,266,137 shares during the period. Norges Bank purchased a new stake in shares of Carrier Global in the fourth quarter worth $588,029,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Carrier Global by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock valued at $473,046,000 after buying an additional 936,892 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.4%

CARR traded down $0.29 during trading on Friday, hitting $71.12. 6,337,867 shares of the stock traded hands, compared to its average volume of 4,659,656. The firm has a market capitalization of $60.97 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 12-month low of $54.22 and a 12-month high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The firm has a 50-day moving average of $65.63 and a 200 day moving average of $67.83.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates 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 23.83% and a return on equity of 18.82%. Carrier Global's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Equities research analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were given a $0.225 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. Carrier Global's dividend payout ratio is currently 13.93%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CARR. Mizuho set a $72.00 price objective on shares of Carrier Global in a research report on Tuesday, April 22nd. 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 research report on Friday, May 9th. Wolfe Research raised shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a report on Monday, February 24th. Wells Fargo & Company increased 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, Robert W. Baird raised their price target on Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.00.

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.