Carrier Global Co. (NYSE:CARR) Stake Lifted by Fifth Third Bancorp

Fifth Third Bancorp increased its position in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,263 shares of the company's stock after buying an additional 13,555 shares during the period. Fifth Third Bancorp's holdings in Carrier Global were worth $6,547,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Syon Capital LLC increased its stake in Carrier Global by 2.2% in the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock valued at $484,000 after purchasing an additional 155 shares during the last quarter. BOK Financial Private Wealth Inc. increased its stake in Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after purchasing an additional 160 shares during the last quarter. Wealthspire Advisors LLC increased its stake in Carrier Global by 3.7% in the fourth quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company's stock valued at $305,000 after purchasing an additional 161 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in Carrier Global by 0.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company's stock valued at $1,378,000 after purchasing an additional 169 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its stake in Carrier Global by 1.9% in the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company's stock valued at $623,000 after purchasing an additional 174 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the sale, the director now directly owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Carrier Global Price Performance

Carrier Global stock traded down $1.31 during midday trading on Friday, reaching $71.17. 3,559,102 shares of the company were exchanged, compared to its average volume of 4,687,528. The company has a market capitalization of $61.01 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 2.01 and a beta of 1.33. The firm's 50-day simple moving average is $67.57 and its 200-day simple moving average is $67.47. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

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 the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The firm's revenue was down 3.7% on a year-over-year basis. On average, analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CARR shares. Robert W. Baird raised their target price on shares of Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research report on Friday, May 9th. Citigroup lowered their target price on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada raised their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company raised their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

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.