Carrier Global Corporation (NYSE:CARR) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 22.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,900 shares of the company's stock after selling 3,800 shares during the period. Intact Investment Management Inc.'s holdings in Carrier Global were worth $818,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Carrier Global during the 4th quarter valued at about $588,029,000. Wealthfront Advisers LLC raised its stake in Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock worth $341,300,000 after purchasing an additional 4,915,826 shares during the period. Brown Advisory Inc. boosted its holdings in Carrier Global by 139.1% in the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock valued at $361,544,000 after purchasing an additional 3,080,984 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Carrier Global in the 4th quarter valued at approximately $166,061,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Carrier Global during the 4th quarter worth approximately $108,433,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CARR. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a report on Friday, May 9th. Citigroup decreased their price target on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Robert W. Baird raised their price objective on Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Royal Bank Of Canada upped their target price on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated 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 transaction, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.20% of the company's stock.

Carrier Global Stock Up 1.0%

NYSE:CARR traded up $0.75 during midday trading on Tuesday, reaching $72.53. The company had a trading volume of 3,646,300 shares, compared to its average volume of 4,702,678. The stock's fifty day simple moving average is $69.14 and its 200-day simple moving average is $67.24. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The firm has a market capitalization of $62.18 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 2.01 and a beta of 1.33.

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

Carrier Global Announces Dividend

The company also recently disclosed 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 1.24%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio is presently 13.93%.

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.