Carrier Global Corporation (NYSE:CARR) Stake Trimmed by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC reduced its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,820 shares of the company's stock after selling 4,317 shares during the period. Cutler Investment Counsel LLC's holdings in Carrier Global were worth $9,752,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Carrier Global by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after purchasing an additional 420,081 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after buying an additional 4,377,402 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Carrier Global by 16.7% in the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after acquiring an additional 1,266,137 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Carrier Global by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock worth $473,046,000 after acquiring an additional 936,892 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Carrier Global by 40.3% in the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after acquiring an additional 1,453,247 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's 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 transaction, the director owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.20% of the company's stock.

Carrier Global Stock Performance

Carrier Global stock traded down $1.72 during midday trading on Friday, reaching $66.90. 5,450,797 shares of the stock traded hands, compared to its average volume of 4,818,715. The firm has a market cap of $56.93 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.88 and a beta of 1.26. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average price of $73.35 and a two-hundred day moving average price of $68.33. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32.

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

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.3%. Carrier Global's dividend payout ratio (DPR) is presently 19.61%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Royal Bank Of Canada lowered their price objective on Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a report on Wednesday. Citigroup reiterated a "buy" rating and set a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Finally, Robert W. Baird dropped their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and an average price target of $84.47.

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.