Oppenheimer & Co. Inc. Lowers Holdings in Carrier Global Corporation (NYSE:CARR)

Oppenheimer & Co. Inc. reduced its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 22.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 53,535 shares of the company's stock after selling 15,241 shares during the period. Oppenheimer & Co. Inc.'s holdings in Carrier Global were worth $3,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Syon Capital LLC raised its stake in shares of Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after acquiring an additional 155 shares in the last quarter. BOK Financial Private Wealth Inc. grew its holdings in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after purchasing an additional 160 shares during the last quarter. Wealthspire Advisors LLC raised its position in Carrier Global by 3.7% in the 4th quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company's stock worth $305,000 after purchasing an additional 161 shares during the period. Lake Street Advisors Group LLC lifted its stake in Carrier Global by 0.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company's stock worth $1,378,000 after purchasing an additional 169 shares during the last quarter. Finally, Beck Mack & Oliver LLC lifted its stake in Carrier Global by 1.9% in the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company's stock worth $623,000 after purchasing an additional 174 shares during 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 Carrier Global stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the transaction, the director now directly owns 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho set a $72.00 price objective on Carrier Global in a report on Tuesday, April 22nd. 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 research report on Tuesday, May 20th. Citigroup decreased their price target 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. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Four 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Carrier Global Trading Up 1.7%

Carrier Global stock traded up $1.24 during mid-day trading on Friday, reaching $73.83. 1,595,735 shares of the company traded hands, compared to its average volume of 5,436,980. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The firm has a market capitalization of $63.30 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 2.03 and a beta of 1.33. The firm's 50 day moving average price is $69.66 and its 200 day moving average price is $67.27.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly 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. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The company had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. Carrier Global's quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.22%. Carrier Global's dividend payout ratio (DPR) is 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.