Community Bank N.A. Trims Stake in Carrier Global Corporation (NYSE:CARR)

Community Bank N.A. reduced its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 71.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,875 shares of the company's stock after selling 7,070 shares during the quarter. Community Bank N.A.'s holdings in Carrier Global were worth $182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. raised its stake in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after buying an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its holdings in Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after acquiring an additional 180 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Carrier Global during the 4th quarter worth approximately $28,000. Mattson Financial Services LLC bought a new stake in Carrier Global during the 4th quarter worth approximately $31,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global during the fourth quarter valued at approximately $31,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

NYSE:CARR opened at $69.80 on Thursday. The company has a market cap of $59.84 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.96 and a beta of 1.33. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The stock's 50 day simple moving average is $68.24 and its two-hundred day simple moving average is $67.40. 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 (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates 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 for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. As a group, equities analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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 given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is 13.93%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CARR. Wells Fargo & Company increased their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research note on Friday, May 9th. Barclays boosted their price objective on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Finally, Mizuho set a $72.00 target price on Carrier Global in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction 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. This represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.20% of the stock is owned by insiders.

Carrier Global Company 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.

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.