DekaBank Deutsche Girozentrale Decreases Stock Holdings in Carrier Global Corporation (NYSE:CARR)

DekaBank Deutsche Girozentrale cut its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,256,533 shares of the company's stock after selling 79,870 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.15% of Carrier Global worth $78,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CARR. Golden State Wealth Management LLC raised its position in Carrier Global by 51.8% in the first quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after acquiring an additional 474 shares during the period. Bessemer Group Inc. raised its position in Carrier Global by 15.7% in the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after acquiring an additional 3,900 shares during the period. Ensign Peak Advisors Inc raised its position in Carrier Global by 27.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after acquiring an additional 285,803 shares during the period. Sowell Financial Services LLC bought a new stake in Carrier Global in the first quarter worth about $234,000. Finally, Ritholtz Wealth Management raised its position in Carrier Global by 34.0% in the first quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock worth $252,000 after acquiring an additional 1,007 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction dated 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 owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is owned by company insiders.

Carrier Global Trading Down 0.1%

CARR traded down $0.06 during trading on Friday, reaching $76.71. The company had a trading volume of 3,805,081 shares, compared to its average volume of 4,694,750. The stock has a market cap of $65.76 billion, a P/E ratio of 11.87, a PEG ratio of 2.09 and a beta of 1.31. The business has a 50 day simple moving average of $72.55 and a 200-day simple moving average of $67.62. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. On average, equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

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 $0.225 dividend. The ex-dividend date is Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.17%. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

Wall Street Analyst Weigh In

CARR has been the subject of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Robert W. Baird lifted their target price on shares of Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Citigroup reduced their target price on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Finally, Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a research note on Friday, May 9th. Six 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 company's stock. According to MarketBeat, Carrier Global has a consensus rating of "Moderate Buy" and a consensus price target of $83.82.

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.