Carrier Global Corporation (NYSE:CARR) Shares Sold by Bank of Nova Scotia

Key Points

• The Bank of Nova Scotia has reduced its stake in Carrier Global Corporation by 24.4%, selling 25,802 shares during the first quarter, which now values its holdings at approximately $5,079,000.
• Carrier Global recently announced a quarterly dividend of $0.225 per share, translating to an annualized yield of 1.4%, with a low payout ratio of 19.61%.
• The company's stock has experienced volatility, with a 52-week high of $83.32 and a low of $54.22, and has reported $0.92 EPS for the last quarter, exceeding analyst expectations.

Bank of Nova Scotia trimmed its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 24.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,110 shares of the company's stock after selling 25,802 shares during the period. Bank of Nova Scotia's holdings in Carrier Global were worth $5,079,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Syon Capital LLC grew its position in shares of Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after buying an additional 155 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Carrier Global by 1.3% during the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock valued at $779,000 after acquiring an additional 156 shares during the last quarter. Code Waechter LLC grew its stake in Carrier Global by 5.1% in the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after purchasing an additional 164 shares in the last quarter. Essex Financial Services Inc. raised its position in shares of Carrier Global by 0.4% during the 1st quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock valued at $2,649,000 after acquiring an additional 173 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its stake in Carrier Global by 1.9% during the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company's stock worth $623,000 after purchasing an additional 174 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CARR shares. Melius assumed coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price for the company. Robert W. Baird lowered their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Citigroup reissued a "buy" rating and issued a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Mizuho set a $72.00 target price on Carrier Global in a research note on Tuesday, April 22nd. Finally, Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price target on the stock in a research report on Tuesday, July 1st. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.47.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the transaction, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.20% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE:CARR traded up $0.29 on Thursday, hitting $66.40. The company's stock had a trading volume of 4,024,733 shares, compared to its average volume of 5,120,716. The company has a market capitalization of $56.51 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The stock's 50-day moving average is $72.94 and its two-hundred day moving average is $68.24.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. On average, equities research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is presently 19.61%.

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.