Carrier Global Corporation (NYSE:CARR) Shares Sold by Canoe Financial LP

Canoe Financial LP cut its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 6.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 185,303 shares of the company's stock after selling 12,800 shares during the period. Canoe Financial LP's holdings in Carrier Global were worth $11,748,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CARR. Norges Bank purchased a new position in Carrier Global during the fourth quarter worth about $588,029,000. Wealthfront Advisers LLC lifted its holdings in shares of Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after acquiring an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Carrier Global by 139.1% during the 4th 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 during the period. Artisan Partners Limited Partnership acquired a new stake in Carrier Global in the 4th quarter valued at approximately $166,061,000. Finally, Raymond James Financial Inc. acquired a new stake in Carrier Global in the 4th quarter valued at approximately $108,433,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company's 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 now directly owns 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is owned by corporate insiders.

Carrier Global Stock Performance

Shares of CARR stock opened at $70.37 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average price of $68.68 and a 200 day moving average price of $67.32. The company has a market cap of $60.33 billion, a P/E ratio of 10.89, a PEG ratio of 1.96 and a beta of 1.33. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The company's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Sell-side analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be given 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 1.28%. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

Analyst Upgrades and Downgrades

CARR has been the subject of several research reports. Robert W. Baird lifted their target price on shares of Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Royal Bank Of Canada lifted their target price on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Monday, February 24th. Citigroup dropped their target price on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.

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