Carrier Global Corporation (NYSE:CARR) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 17.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 79,469 shares of the company's stock after selling 16,922 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Carrier Global were worth $5,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new position in Carrier Global during the fourth quarter worth $588,029,000. Wealthfront Advisers LLC grew its position in shares of Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock valued at $341,300,000 after purchasing an additional 4,915,826 shares during the period. Brown Advisory Inc. increased its stake in shares of Carrier Global by 139.1% during the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock worth $361,544,000 after purchasing an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Carrier Global during the 4th quarter worth about $166,061,000. Finally, Raymond James Financial Inc. purchased a new position in Carrier Global in the 4th quarter valued at about $108,433,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CARR shares. Robert W. Baird boosted their price objective on Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Wells Fargo & Company increased their price objective 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. Barclays raised their price objective on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada upped their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company'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 sale, the director now directly owns 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This 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 the SEC website. Insiders own 7.20% of the company's stock.

Carrier Global Stock Up 1.5%

Carrier Global stock traded up $1.11 during trading on Friday, reaching $73.70. The stock had a trading volume of 6,162,772 shares, compared to its average volume of 4,666,376. 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 52-week low of $54.22 and a 52-week high of $83.32. The stock has a market cap of $63.19 billion, a PE ratio of 11.41, a P/E/G ratio of 2.07 and a beta of 1.33. The business has a 50 day moving average price of $69.94 and a 200 day moving average price of $67.23.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. Carrier Global's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, 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. Shareholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. The ex-dividend date is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.22%. Carrier Global's payout ratio is currently 13.93%.

About Carrier Global

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.