Carrier Global Corporation (NYSE:CARR) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 299,009 shares of the company's stock after selling 7,042 shares during the quarter. M&T Bank Corp's holdings in Carrier Global were worth $18,956,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Ritter Daniher Financial Advisory LLC DE boosted its position in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after buying an additional 180 shares during the period. Park Square Financial Group LLC acquired a new stake in Carrier Global during the 4th quarter worth approximately $28,000. Investment Research & Advisory Group Inc. acquired a new stake in Carrier Global during the 1st quarter worth approximately $29,000. Mattson Financial Services LLC acquired a new stake in Carrier Global during the 4th quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. boosted its position in Carrier Global by 236.1% during the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock worth $33,000 after buying an additional 340 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Up 1.4%

Shares of CARR traded up $1.04 during midday trading on Wednesday, reaching $75.94. 4,119,285 shares of the stock were exchanged, compared to its average volume of 4,687,014. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The company's 50 day moving average is $72.03 and its two-hundred day moving average is $67.46. The company has a market capitalization of $65.10 billion, a P/E ratio of 11.76, a PEG ratio of 2.06 and a beta of 1.31. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78.

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

Carrier Global Dividend Announcement

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 dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.19%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is currently 13.93%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lowered their price target 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. Melius assumed coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target for the company. Robert W. Baird raised their price target on shares of Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Barclays lifted their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.82.

Insiders Place Their Bets

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.20% of the company's stock.

About Carrier Global

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.