Pacer Advisors Inc. Lowers Stock Position in Carrier Global Corporation (NYSE:CARR)

Key Points

• Pacer Advisors Inc. has reduced its stake in Carrier Global Corporation by 29.9%, now holding 62,754 shares valued at approximately $3.98 million.
• Carrier Global's stock has decreased by 10.6%, trading at $71.72, with analysts predicting an EPS of 2.99 for the current fiscal year.
• The company recently announced a quarterly dividend of $0.225 per share, representing an annualized dividend of $0.90 and a yield of 1.25%.

Pacer Advisors Inc. lessened its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 29.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,754 shares of the company's stock after selling 26,785 shares during the period. Pacer Advisors Inc.'s holdings in Carrier Global were worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after buying an additional 420,081 shares during the last quarter. Brown Advisory Inc. grew its position in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares during the last quarter. Northern Trust Corp increased its stake in Carrier Global by 16.7% during the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock valued at $603,922,000 after purchasing an additional 1,266,137 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Carrier Global by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock worth $473,046,000 after buying an additional 936,892 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Carrier Global by 40.3% during the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after buying an additional 1,453,247 shares during the period. Hedge funds and other institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CARR shares. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Barclays dropped their target price on Carrier Global from $84.00 to $82.00 and set an "overweight" rating on the stock in a research report on Wednesday. Robert W. Baird cut their price target on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. restated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research report on Tuesday, July 15th. Finally, Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $84.47.

Carrier Global Stock Down 2.5%

NYSE:CARR traded down $1.72 during trading hours on Friday, hitting $66.90. The company's stock had a trading volume of 2,072,924 shares, compared to its average volume of 5,349,524. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The stock has a fifty day moving average of $73.43 and a 200-day moving average of $68.34. The stock has a market capitalization of $57.35 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.86 and a beta of 1.31.

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

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.3%. Carrier Global's dividend payout ratio (DPR) is currently 19.61%.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global 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 in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Carrier Global Company 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.