M&T Bank Corp Has $18.96 Million Holdings in Carrier Global Corporation (NYSE:CARR)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stratos Wealth Advisors LLC grew its position in shares of Carrier Global by 9.3% in the 1st quarter. Stratos Wealth Advisors LLC now owns 4,863 shares of the company's stock worth $308,000 after acquiring an additional 413 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after acquiring an additional 4,377,402 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Carrier Global by 10.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 43,969 shares of the company's stock worth $2,788,000 after acquiring an additional 4,262 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Carrier Global by 60.2% in the 1st quarter. TD Private Client Wealth LLC now owns 21,712 shares of the company's stock worth $1,377,000 after purchasing an additional 8,158 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Carrier Global by 13.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,651,545 shares of the company's stock worth $168,108,000 after purchasing an additional 305,117 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Analysts Set New Price Targets

CARR has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Citigroup cut their target price on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their target price on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their target price on Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.82.

Insider Activity at Carrier Global

In related 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 transaction, the director directly owned 54,341,534 shares of the company's stock, 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 legal filing with the SEC, which is available through this link. Corporate insiders own 7.20% of the company's stock.

Carrier Global Stock Up 1.4%

Shares of Carrier Global stock traded up $1.05 during trading hours on Thursday, reaching $76.94. 3,461,635 shares of the company's stock were exchanged, compared to its average volume of 4,698,730. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The stock has a market cap of $65.96 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.07 and a beta of 1.31. The company has a 50 day moving average of $72.44 and a two-hundred day moving average of $67.57. 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 earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The business 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%. Carrier Global's revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. On average, sell-side analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.17%. Carrier Global's dividend payout ratio is presently 13.93%.

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.