Carrier Global Corporation (NYSE:CARR) Shares Sold by Commerce Bank

Key Points

• Commerce Bank has reduced its holdings in Carrier Global Corporation by 2.8%, now owning 142,214 shares valued at approximately $9.02 million.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Carrier Global, with price targets ranging from $65 to $90.
• Carrier Global recently announced a quarterly dividend of $0.225 per share, reflecting an annualized yield of 1.3% with a payout ratio of 19.61%.

Commerce Bank lessened its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,214 shares of the company's stock after selling 4,122 shares during the quarter. Commerce Bank's holdings in Carrier Global were worth $9,016,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CARR. Brighton Jones LLC lifted its holdings in Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after purchasing an additional 1,850 shares in the last quarter. American Century Companies Inc. lifted its holdings in Carrier Global by 1.0% during the fourth quarter. American Century Companies Inc. now owns 93,610 shares of the company's stock valued at $6,390,000 after purchasing an additional 923 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Carrier Global by 303.1% during the fourth quarter. Wellington Management Group LLP now owns 181,661 shares of the company's stock valued at $12,400,000 after purchasing an additional 136,597 shares in the last quarter. World Investment Advisors purchased a new position in Carrier Global during the fourth quarter valued at approximately $272,000. Finally, Atlas Capital Advisors Inc. lifted its holdings in Carrier Global by 9,642.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 2,728 shares of the company's stock valued at $186,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Melius assumed coverage on shares of Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 target price for the company. Finally, Mizuho set a $72.00 target price on shares of Carrier Global in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $84.47.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the 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 owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.20% of the company's stock.

Carrier Global Stock Down 1.1%

Carrier Global stock traded down $0.71 during trading hours on Wednesday, reaching $65.67. The stock had a trading volume of 258,530 shares, compared to its average volume of 5,323,269. The company has a market cap of $55.88 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The business's 50 day moving average price is $73.14 and its 200-day moving average price is $68.28. 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 earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio 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.