Empirical Financial Services LLC d.b.a. Empirical Wealth Management Cuts Stock Position in Carrier Global Corporation (NYSE:CARR)

Key Points

• Empirical Financial Services LLC significantly reduced its stake in Carrier Global Corporation by 67.8%, selling 139,333 shares to own only 66,313 shares worth approximately $4.2 million as of the latest filing.
• Carrier Global's stock performance shows a market capitalization of $58.87 billion with a recent trading price of $68.66, fluctuating between $54.22 and $83.32 over the past year.
• The company announced a quarterly dividend of $0.225 per share, translating to an annualized yield of 1.3%, with a dividend payout ratio of 19.61%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 67.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,313 shares of the company's stock after selling 139,333 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Carrier Global were worth $4,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Carrier Global in the 4th quarter valued at about $28,000. Investment Research & Advisory Group Inc. acquired a new stake in Carrier Global in the 1st quarter valued at about $29,000. Mattson Financial Services LLC acquired a new stake in Carrier Global in the 4th quarter valued at about $31,000. Finally, Meeder Asset Management Inc. raised its holdings in Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after acquiring an additional 340 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is currently owned by corporate insiders.

Carrier Global Stock Performance

CARR traded down $0.33 on Tuesday, reaching $66.21. The company had a trading volume of 1,793,657 shares, compared to its average volume of 5,345,582. The stock has a 50-day moving average price of $73.26 and a 200-day moving average price of $68.30. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $56.34 billion, a PE ratio of 14.41, a P/E/G ratio of 1.83 and a beta of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly 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. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. As a group, research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.4%. Carrier Global's dividend payout ratio (DPR) is currently 19.61%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CARR shares. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a report on Tuesday, July 15th. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price target on the stock in a research report on Tuesday, July 1st. Robert W. Baird reduced their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Wells Fargo & Company boosted their target price on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Melius assumed coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 target price on the stock. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.47.

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.