Capital Management Corp VA Acquires 31,580 Shares of Carrier Global Corporation (NYSE:CARR)

Capital Management Corp VA increased its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 36.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,489 shares of the company's stock after buying an additional 31,580 shares during the period. Capital Management Corp VA's holdings in Carrier Global were worth $7,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CARR. Geode Capital Management LLC increased its position in shares of Carrier Global by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock worth $1,181,300,000 after purchasing an additional 420,081 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. Northern Trust Corp increased its position in shares of Carrier Global by 16.7% during 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 in the last quarter. Norges Bank purchased a new stake in Carrier Global in the fourth quarter valued at $588,029,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Carrier Global by 15.6% in 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 purchasing an additional 936,892 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

CARR has been the topic of several recent research reports. Citigroup reaffirmed a "buy" rating and issued a $89.00 price target (up from $82.00) on shares of Carrier Global in a report on Monday. Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday. Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a report on Friday, May 9th. Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada increased their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.65.

Carrier Global Price Performance

Carrier Global stock traded up $0.12 during midday trading on Friday, reaching $77.05. The company had a trading volume of 488,766 shares, compared to its average volume of 4,661,963. The company has a market capitalization of $66.06 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.06 and a beta of 1.31. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The firm's fifty day simple moving average is $73.00 and its 200-day simple moving average is $67.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share 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 analyst estimates of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. Carrier Global's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. As a group, equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm 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 $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. Carrier Global's payout ratio is 13.93%.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated Thursday, June 5th. The shares were 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 owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.20% of the company's stock.

Carrier Global Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.