Fiera Capital Corp Sells 513,691 Shares of Carrier Global Corporation (NYSE:CARR)

Key Points

• Fiera Capital Corp has reduced its stake in Carrier Global Corporation by 7.1%, now holding approximately 6.7 million shares, which represents 1.5% of its investment portfolio.
• Carrier Global recently announced a quarterly dividend of $0.225, with a current yield of 1.12%, set to be paid on August 8th to investors of record on July 21st.
• The company's latest earnings report indicates a earnings per share (EPS) of $0.65, exceeding analyst expectations, although quarterly revenue has declined by 3.7% year-over-year.

Fiera Capital Corp decreased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,713,817 shares of the company's stock after selling 513,691 shares during the period. Carrier Global comprises 1.5% of Fiera Capital Corp's holdings, making the stock its 21st largest holding. Fiera Capital Corp owned approximately 0.78% of Carrier Global worth $425,656,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CARR. Foundations Investment Advisors LLC boosted its position in Carrier Global by 10.5% in the first quarter. Foundations Investment Advisors LLC now owns 6,619 shares of the company's stock valued at $420,000 after buying an additional 631 shares in the last quarter. Baldwin Investment Management LLC grew its holdings in Carrier Global by 3.5% in the first quarter. Baldwin Investment Management LLC now owns 11,240 shares of the company's stock worth $713,000 after purchasing an additional 385 shares during the period. Mackenzie Financial Corp grew its holdings in Carrier Global by 2.3% in the first quarter. Mackenzie Financial Corp now owns 539,211 shares of the company's stock worth $34,186,000 after purchasing an additional 12,065 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Carrier Global during the first quarter valued at about $109,000. Finally, TCW Group Inc. grew its holdings in shares of Carrier Global by 2.1% during the first quarter. TCW Group Inc. now owns 12,031 shares of the company's stock valued at $763,000 after buying an additional 251 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Insiders Place Their Bets

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred 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 completion of the sale, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CARR shares. Robert W. Baird cut their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price target on the stock in a research report on Tuesday, July 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a report on Tuesday, July 15th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Stock Down 1.9%

NYSE:CARR traded down $1.34 on Friday, reaching $67.28. 2,682,328 shares of the stock traded hands, compared to its average volume of 5,353,282. The company has a market capitalization of $57.68 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.86 and a beta of 1.31. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The company's fifty day simple moving average is $73.43 and its 200 day simple moving average is $68.34.

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

Carrier Global Announces Dividend

The company also recently disclosed 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 1.3%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is currently 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.