Columbia Asset Management Sells 170,325 Shares of Carrier Global Co. (NYSE:CARR)

Columbia Asset Management reduced its position in Carrier Global Co. (NYSE:CARR - Free Report) by 93.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,576 shares of the company's stock after selling 170,325 shares during the period. Columbia Asset Management's holdings in Carrier Global were worth $734,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CARR. Norges Bank acquired a new position in shares of Carrier Global in the fourth quarter worth about $588,029,000. Wealthfront Advisers LLC raised its holdings in shares of Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after purchasing an additional 4,915,826 shares during the period. Brown Advisory Inc. lifted its holdings in Carrier Global by 139.1% in the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock worth $361,544,000 after acquiring an additional 3,080,984 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Carrier Global during the 4th quarter valued at approximately $166,061,000. Finally, Raymond James Financial Inc. bought a new position in shares of Carrier Global during the fourth quarter worth about $108,433,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction 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 sale, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.20% of the company's stock.

Carrier Global Stock Performance

Shares of Carrier Global stock traded down $0.31 on Friday, reaching $71.09. The stock had a trading volume of 4,754,889 shares, compared to its average volume of 4,665,320. The stock has a market cap of $60.95 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The business's 50-day moving average price is $66.27 and its two-hundred day moving average price is $67.65.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same period in the prior year, the business earned $0.51 earnings per share. Carrier Global's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were paid a $0.225 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. Carrier Global's payout ratio is 13.93%.

Analysts Set New Price Targets

Several research firms recently commented on CARR. Royal Bank of Canada raised their target price on Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Robert W. Baird increased their price objective on Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. 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. Citigroup dropped their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Wolfe Research raised shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $83.00.

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.