J. Safra Sarasin Holding AG Sells 22,298 Shares of Carrier Global Corporation (NYSE:CARR)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Carrier Global Corporation by 5.5%, ending with 385,114 shares valued at approximately $24.4 million.
• Research analysts have given Carrier Global a consensus rating of "Moderate Buy", with an average price target of $84.47 based on recent evaluations.
• Carrier Global's recent quarterly earnings surpassed expectations, reporting $0.92 earnings per share and $6.11 billion in revenue.

J. Safra Sarasin Holding AG lessened its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 385,114 shares of the company's stock after selling 22,298 shares during the period. J. Safra Sarasin Holding AG's holdings in Carrier Global were worth $24,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock valued at $88,000 after acquiring an additional 474 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Carrier Global by 15.7% in the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock valued at $1,823,000 after buying an additional 3,900 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in shares of Carrier Global by 27.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock valued at $89,706,000 after buying an additional 285,803 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Carrier Global in the 1st quarter valued at approximately $234,000. Finally, Ritholtz Wealth Management grew its stake in shares of Carrier Global by 34.0% in the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock valued at $252,000 after buying an additional 1,007 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $1.72 during trading hours on Friday, reaching $66.90. The stock had a trading volume of 5,450,797 shares, compared to its average volume of 5,091,293. The business's fifty day moving average is $73.35 and its two-hundred day moving average is $68.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market cap of $56.93 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.83 and a beta of 1.25. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. As a group, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed 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. This represents a $0.90 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is currently 19.61%.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on CARR. Citigroup reissued a "buy" rating and issued a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Barclays lowered their price target on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a research note on Friday, May 9th. Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. Finally, Robert W. Baird reduced their target price on Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.47.

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.