Principal Financial Group Inc. Sells 58,926 Shares of Carrier Global Corporation (NYSE:CARR)

Principal Financial Group Inc. lowered its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,608,946 shares of the company's stock after selling 58,926 shares during the period. Principal Financial Group Inc. owned about 0.30% of Carrier Global worth $165,407,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CARR. Norges Bank bought a new stake in shares of Carrier Global in the 4th quarter valued at $588,029,000. Wealthfront Advisers LLC increased its position in shares of Carrier Global by 5,840.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock valued at $341,300,000 after buying an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Carrier Global by 139.1% in the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock valued at $361,544,000 after buying an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Carrier Global during the 4th quarter worth about $166,061,000. Finally, Raymond James Financial Inc. bought a new position in Carrier Global during the 4th quarter worth about $108,433,000. Institutional investors own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CARR shares. Royal Bank Of Canada increased their target price on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Robert W. Baird increased their target price on Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Wells Fargo & Company increased their target price on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Finally, Barclays increased their target price on Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and a consensus target price of $83.82.

Carrier Global Stock Up 0.0%

Shares of Carrier Global stock traded up $0.03 during trading hours on Friday, reaching $75.29. 1,423,418 shares of the company's stock were exchanged, compared to its average volume of 4,687,071. The company has a 50 day moving average of $71.47 and a two-hundred day moving average of $67.36. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The stock has a market cap of $64.55 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.09 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the business posted $0.51 EPS. Carrier Global's revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be issued a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.20%. Carrier Global's dividend payout ratio is currently 13.93%.

Insiders Place Their Bets

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the 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 transaction, the director directly owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

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.