IFM Investors Pty Ltd Buys 14,214 Shares of Carrier Global Corporation (NYSE:CARR)

IFM Investors Pty Ltd increased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,986 shares of the company's stock after acquiring an additional 14,214 shares during the quarter. IFM Investors Pty Ltd's holdings in Carrier Global were worth $12,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock worth $543,000 after buying an additional 1,850 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Carrier Global during the 4th quarter worth approximately $98,000. Proficio Capital Partners LLC raised its holdings in Carrier Global by 62.6% during the 4th quarter. Proficio Capital Partners LLC now owns 7,198 shares of the company's stock worth $491,000 after buying an additional 2,770 shares during the period. Cullen Frost Bankers Inc. raised its holdings in Carrier Global by 4.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 136,541 shares of the company's stock worth $9,320,000 after buying an additional 6,316 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Carrier Global during the 4th quarter worth approximately $108,433,000. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CARR. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Barclays lifted their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Robert W. Baird lifted their price objective on shares of Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Melius initiated coverage on shares of Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective on the stock. Finally, Citigroup lowered their price objective on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global has a consensus rating of "Moderate Buy" and a consensus price target of $83.82.

Carrier Global Stock Up 0.4%

CARR traded up $0.30 during trading on Tuesday, reaching $74.94. 4,506,598 shares of the stock were exchanged, compared to its average volume of 4,689,285. The stock has a market cap of $64.25 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The stock's 50 day moving average price is $72.03 and its two-hundred day moving average price is $67.46. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20.

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

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, July 21st. Carrier Global's payout ratio is presently 13.93%.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global 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 completion of the sale, the director owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.20% of the company's stock.

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.