Carrier Global Corporation (NYSE:CARR) Position Cut by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Carrier Global Corporation by 12.5% in the first quarter, now holding 39,222 shares valued at approximately $2.487 million.
• In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global at an average price of $70.30, resulting in a transaction worth nearly $300 million.
• Carrier Global recently declared a $0.225 quarterly dividend, with a current annualized payout of $0.90, yielding 1.4% based on its stock price.

Maryland State Retirement & Pension System reduced its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,222 shares of the company's stock after selling 5,580 shares during the period. Maryland State Retirement & Pension System's holdings in Carrier Global were worth $2,487,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CARR. Deutsche Bank AG increased its position in Carrier Global by 1.0% during the 1st quarter. Deutsche Bank AG now owns 2,424,534 shares of the company's stock worth $153,715,000 after purchasing an additional 23,950 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Carrier Global by 2.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the company's stock worth $424,000 after purchasing an additional 168 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in Carrier Global by 5.1% during the 1st quarter. Citizens Financial Group Inc. RI now owns 17,745 shares of the company's stock worth $1,125,000 after purchasing an additional 869 shares in the last quarter. AXS Investments LLC increased its position in Carrier Global by 14.5% during the 1st quarter. AXS Investments LLC now owns 20,393 shares of the company's stock worth $1,293,000 after purchasing an additional 2,579 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its position in Carrier Global by 4.5% during the 1st quarter. Wealthspire Advisors LLC now owns 4,676 shares of the company's stock worth $296,000 after purchasing an additional 203 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on CARR. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research report on Tuesday, July 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Royal Bank Of Canada lowered their price objective on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company increased their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Up 1.2%

Shares of Carrier Global stock traded up $0.76 on Wednesday, hitting $66.49. 2,030,789 shares of the company's stock traded hands, compared to its average volume of 5,285,085. The stock has a market cap of $56.59 billion, a P/E ratio of 14.50, a PEG ratio of 1.78 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The firm's 50-day moving average is $72.63 and its 200 day moving average is $68.14. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings data 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. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The firm had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.08 billion. Equities analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 21st were paid a dividend of $0.225 per share. The ex-dividend date was Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.4%. Carrier Global's dividend payout ratio (DPR) is 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.