CX Institutional Cuts Stake in Carrier Global Co. (NYSE:CARR)

CX Institutional lessened its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 27.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,875 shares of the company's stock after selling 3,737 shares during the quarter. CX Institutional's holdings in Carrier Global were worth $626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CARR. Brighton Jones LLC boosted its holdings in shares of Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after purchasing an additional 1,850 shares during the period. Empowered Funds LLC lifted its holdings in Carrier Global by 15.1% in the 4th quarter. Empowered Funds LLC now owns 55,962 shares of the company's stock worth $3,820,000 after buying an additional 7,358 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in Carrier Global by 4.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 18,980 shares of the company's stock worth $1,296,000 after buying an additional 805 shares during the period. Leavell Investment Management Inc. grew its position in shares of Carrier Global by 17.8% in the 4th quarter. Leavell Investment Management Inc. now owns 5,927 shares of the company's stock worth $406,000 after buying an additional 895 shares during the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Carrier Global during the fourth quarter valued at approximately $82,000. Institutional investors own 91.00% of the company's stock.

Insider Activity at Carrier Global

In other 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 transaction, the director now directly owns 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 filing with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. 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 research report on Friday, May 16th. Barclays boosted their price target on shares of Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Carrier Global Stock Down 1.8%

Carrier Global stock traded down $1.31 during mid-day trading on Friday, reaching $71.17. The stock had a trading volume of 3,559,102 shares, compared to its average volume of 4,686,354. The company has a market capitalization of $61.01 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a one year low of $54.22 and a one year high of $83.32. The company has a 50-day moving average price of $67.25 and a two-hundred day moving average price of $67.58.

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

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is currently 13.93%.

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.