Cumberland Partners Ltd Sells 43,370 Shares of Carrier Global Corporation (NYSE:CARR)

Key Points

• Cumberland Partners Ltd has significantly reduced its holdings in Carrier Global Corporation by 66.2%, now owning 22,095 shares valued at approximately $1.4 million.
• Carrier Global recently reported $0.92 earnings per share for the quarter, beating estimates, and announced a quarterly dividend of $0.225 per share.
• The company's stock is favored among analysts with a consensus rating of "Moderate Buy" and a target price of $84.47.

Cumberland Partners Ltd decreased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,095 shares of the company's stock after selling 43,370 shares during the quarter. Cumberland Partners Ltd's holdings in Carrier Global were worth $1,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after purchasing an additional 180 shares during the period. Park Square Financial Group LLC bought a new stake in Carrier Global during the 4th quarter worth approximately $28,000. Investment Research & Advisory Group Inc. bought a new stake in Carrier Global during the 1st quarter worth approximately $29,000. Mattson Financial Services LLC bought a new stake in Carrier Global during the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Carrier Global during the 4th quarter worth approximately $35,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Mizuho set a $72.00 target price on Carrier Global in a research note on Tuesday, April 22nd. Citigroup restated a "buy" rating and issued a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Royal Bank Of Canada cut their target price on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Barclays dropped their price objective on Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $84.47.

Insider Buying and Selling at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction on 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 transaction, the director owned 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.20% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.17 during trading on Tuesday, hitting $66.37. 3,658,898 shares of the company were exchanged, compared to its average volume of 5,358,437. The company has a market cap of $56.48 billion, a PE ratio of 14.46, a P/E/G ratio of 1.83 and a beta of 1.25. The stock has a 50 day moving average of $73.26 and a 200 day moving average of $68.30. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80.

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

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 annualized dividend and a dividend yield of 1.4%. Carrier Global's dividend payout ratio is presently 19.61%.

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.