Carrier Global Corporation (NYSE:CARR) Position Trimmed by Schnieders Capital Management LLC

Key Points

• Schnieders Capital Management LLC reduced its stake in Carrier Global Corporation by 48.6% during the first quarter, now holding 12,690 shares valued at approximately $805,000.
• Other institutional investors like Brown Advisory Inc. and Invesco Ltd. increased their holdings in Carrier Global significantly, with Brown Advisory raising its stake by 82.6%.
• Carrier Global reported earnings of $0.92 per share, exceeding analyst expectations, and has declared a quarterly dividend of $0.225 per share, reflecting a 1.4% yield.

Schnieders Capital Management LLC cut its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 48.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,690 shares of the company's stock after selling 11,998 shares during the quarter. Schnieders Capital Management LLC's holdings in Carrier Global were worth $805,000 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 the business. Park Square Financial Group LLC purchased a new stake in Carrier Global during the fourth quarter valued at about $28,000. Investment Research & Advisory Group Inc. purchased a new stake in shares of Carrier Global during the 1st quarter worth about $29,000. Mattson Financial Services LLC acquired a new stake in Carrier Global during the 4th quarter worth approximately $31,000. Mascagni Wealth Management Inc. purchased a new position in Carrier Global in the fourth quarter valued at approximately $35,000. Finally, Transce3nd LLC acquired a new position in Carrier Global during the fourth quarter valued at approximately $37,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company's 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 sale, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CARR has been the topic of a number of research reports. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research report on Tuesday, July 1st. Royal Bank Of Canada dropped their target price on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Northcoast Research upgraded 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. Finally, Melius assumed coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective for the company. 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 an average price target of $84.47.

Carrier Global Stock Down 0.5%

Carrier Global stock traded down $0.31 during midday trading on Friday, hitting $66.05. The stock had a trading volume of 3,321,078 shares, compared to its average volume of 5,148,879. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a market cap of $56.21 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.82 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 has a fifty day moving average price of $72.94 and a 200 day moving average price of $68.24.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid 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 yield of 1.4%. Carrier Global's payout ratio is presently 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.