KLP Kapitalforvaltning AS Has $18.58 Million Stake in Carrier Global Corporation (NYSE:CARR)

KLP Kapitalforvaltning AS grew its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,085 shares of the company's stock after purchasing an additional 4,800 shares during the period. KLP Kapitalforvaltning AS's holdings in Carrier Global were worth $18,582,000 as of its most recent SEC filing.

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

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company'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 directly owned 54,341,534 shares of the company's stock, valued at approximately $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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

CARR has been the topic of several research reports. JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 price target on shares of Carrier Global in a research report on Tuesday, July 15th. Citigroup restated a "buy" rating and issued a $89.00 price target (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Wells Fargo & Company lifted their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Mizuho set a $72.00 price objective on shares of Carrier Global in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada lifted their target price on Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. 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 has an average rating of "Moderate Buy" and a consensus price target of $84.65.

Carrier Global Trading Up 1.6%

CARR stock traded up $1.28 during mid-day trading on Friday, reaching $80.72. 3,401,234 shares of the stock traded hands, compared to its average volume of 5,255,698. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The stock's fifty day moving average is $73.44 and its 200-day moving average is $68.13. The company has a market cap of $69.21 billion, a P/E ratio of 12.50, a P/E/G ratio of 2.17 and a beta of 1.31. 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 (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. Carrier Global's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business 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. 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 1.11%. Carrier Global's payout ratio is 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.