Commerce Bank Has $9.02 Million Stock Holdings in Carrier Global Corporation (NYSE:CARR)

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 holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,214 shares of the company's stock after selling 4,122 shares during the period. Commerce Bank's holdings in Carrier Global were worth $9,016,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after acquiring an additional 1,850 shares in the last quarter. American Century Companies Inc. raised its position in shares of Carrier Global by 1.0% during the 4th quarter. American Century Companies Inc. now owns 93,610 shares of the company's stock worth $6,390,000 after purchasing an additional 923 shares during the period. Wellington Management Group LLP grew its holdings in Carrier Global by 303.1% in the 4th quarter. Wellington Management Group LLP now owns 181,661 shares of the company's stock worth $12,400,000 after buying an additional 136,597 shares in the last quarter. World Investment Advisors bought a new position in Carrier Global in the 4th quarter worth approximately $272,000. Finally, Atlas Capital Advisors Inc. boosted its stake in Carrier Global by 9,642.9% during the 4th 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. Institutional investors and hedge funds own 91.00% of the company's stock.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated 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 represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CARR shares. Citigroup reissued a "buy" rating and set a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Barclays cut their target price on shares of Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Royal Bank Of Canada cut their target price on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, Mizuho set a $72.00 target price on shares of Carrier Global in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Trading Up 0.8%

Shares of CARR stock traded up $0.54 on Thursday, hitting $66.65. The stock had a trading volume of 173,873 shares, compared to its average volume of 5,311,519. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The firm has a market cap of $56.72 billion, a P/E ratio of 14.52, a PEG ratio of 1.82 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $73.04 and a two-hundred day moving average price of $68.27.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The firm had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.08 billion. As a group, analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be paid 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 (DPR) is 19.61%.

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.