National Bank of Canada FI Acquires 66,889 Shares of Carrier Global Corporation (NYSE:CARR)

Key Points

• National Bank of Canada FI increased its stake in Carrier Global Corporation by 17.5%, acquiring an additional 66,889 shares, bringing their total ownership to approximately $28.5 million.
• Multiple analysts have upgraded or reaffirmed ratings on Carrier Global, with price targets ranging from $75.00 to $90.00, reflecting a consensus rating of "Moderate Buy".
• Carrier Global recently announced a quarterly dividend of $0.225 per share, translating to an annualized dividend of $0.90 and a dividend yield of 1.4%.

National Bank of Canada FI grew its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 449,472 shares of the company's stock after buying an additional 66,889 shares during the quarter. National Bank of Canada FI owned approximately 0.05% of Carrier Global worth $28,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CARR. Brighton Jones LLC grew its stake in shares of Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after purchasing an additional 1,850 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Carrier Global by 62.8% during the fourth quarter. Federated Hermes Inc. now owns 4,069 shares of the company's stock valued at $278,000 after purchasing an additional 1,570 shares during the last quarter. FIL Ltd grew its stake in shares of Carrier Global by 16.3% during the fourth quarter. FIL Ltd now owns 67,945 shares of the company's stock valued at $4,638,000 after purchasing an additional 9,540 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Carrier Global by 15.2% during the fourth quarter. Advisory Services Network LLC now owns 16,536 shares of the company's stock valued at $1,129,000 after purchasing an additional 2,177 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Carrier Global by 1.1% during the fourth quarter. Bessemer Group Inc. now owns 24,868 shares of the company's stock valued at $1,697,000 after purchasing an additional 276 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Insider Activity at Carrier Global

In other 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 value of $299,999,977.50. Following the completion of the transaction, the director owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CARR has been the topic of several research analyst reports. Citigroup reissued a "buy" rating and set a $89.00 price target (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Melius assumed 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. Northcoast Research upgraded shares of 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. Finally, Morgan Stanley cut their price objective on shares of Carrier Global from $78.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.47.

Carrier Global Stock Down 0.3%

Carrier Global stock traded down $0.21 during mid-day trading on Friday, reaching $65.56. The company's stock had a trading volume of 852,992 shares, compared to its average volume of 5,258,033. The company has a market capitalization of $55.79 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The business's 50 day simple moving average is $72.43 and its 200 day simple moving average is $68.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

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

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is 19.61%.

Carrier Global 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.