North Star Investment Management Corp. Sells 11,500 Shares of Carrier Global Corporation (NYSE:CARR)

North Star Investment Management Corp. lowered its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 24.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,300 shares of the company's stock after selling 11,500 shares during the quarter. North Star Investment Management Corp.'s holdings in Carrier Global were worth $2,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc boosted its holdings in Carrier Global by 27.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after buying an additional 285,803 shares during the last quarter. Allworth Financial LP grew its holdings in Carrier Global by 1,657.6% during the fourth quarter. Allworth Financial LP now owns 167,653 shares of the company's stock valued at $11,741,000 after purchasing an additional 158,114 shares during the period. Principal Securities Inc. increased its stake in Carrier Global by 128.6% in the fourth quarter. Principal Securities Inc. now owns 16,919 shares of the company's stock valued at $1,155,000 after purchasing an additional 9,518 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Carrier Global by 1.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company's stock worth $32,786,000 after purchasing an additional 8,746 shares during the period. Finally, Dempze Nancy E boosted its position in shares of Carrier Global by 20.5% during the fourth quarter. Dempze Nancy E now owns 37,482 shares of the company's stock worth $2,559,000 after purchasing an additional 6,372 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Stock Performance

CARR stock traded up $0.02 during mid-day trading on Wednesday, hitting $69.80. 4,073,028 shares of the company were exchanged, compared to its average volume of 4,685,702. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The stock has a market capitalization of $59.84 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.33. The business has a 50 day simple moving average of $68.06 and a 200-day simple moving average of $67.38. 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 released its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. On average, equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is 13.93%.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction on 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 trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Monday, February 24th. Royal Bank Of Canada lifted their price target on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. 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. Wells Fargo & Company boosted their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.00.

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.