Burgundy Asset Management Ltd. Sells 611,705 Shares of Carrier Global Co. (NYSE:CARR)

Burgundy Asset Management Ltd. lowered its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 23.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,948,155 shares of the company's stock after selling 611,705 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.22% of Carrier Global worth $132,981,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. Breed s Hill Capital LLC boosted its position in Carrier Global by 14.7% during the 4th quarter. Breed s Hill Capital LLC now owns 3,438 shares of the company's stock valued at $235,000 after purchasing an additional 441 shares during the period. Vise Technologies Inc. boosted its holdings in shares of Carrier Global by 29.2% during the fourth quarter. Vise Technologies Inc. now owns 15,497 shares of the company's stock valued at $1,058,000 after acquiring an additional 3,502 shares during the period. Harmony Asset Management LLC increased its holdings in shares of Carrier Global by 1.1% in the 4th quarter. Harmony Asset Management LLC now owns 57,657 shares of the company's stock worth $3,936,000 after acquiring an additional 601 shares during the period. Orion Capital Management LLC bought a new stake in Carrier Global in the 4th quarter valued at about $51,000. Finally, Continuum Advisory LLC boosted its stake in Carrier Global by 13.1% during the 4th quarter. Continuum Advisory LLC now owns 2,135 shares of the company's stock valued at $146,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analyst Weigh In

CARR has been the subject of several research analyst reports. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Citigroup cut their price target on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays upped their target price on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their price target on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Northcoast Research raised 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. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

Carrier Global Stock Down 1.0%

NYSE:CARR traded down $0.71 during trading hours on Wednesday, reaching $71.62. The company's stock had a trading volume of 946,498 shares, compared to its average volume of 4,630,161. 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 company has a market cap of $61.40 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a one year low of $54.22 and a one year high of $83.32. The business's 50-day moving average is $65.40 and its 200-day moving average is $67.87.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a dividend of $0.225 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. Carrier Global's payout ratio is 13.93%.

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.