Sumitomo Mitsui Trust Group Inc. Sells 17,717 Shares of Carrier Global Corporation (NYSE:CARR)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,861,319 shares of the company's stock after selling 17,717 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Carrier Global worth $118,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Carrier Global by 15.7% in the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after purchasing an additional 3,900 shares during the period. Ensign Peak Advisors Inc raised its holdings in shares of Carrier Global by 27.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after purchasing an additional 285,803 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Carrier Global in the 1st quarter worth approximately $234,000. Ritholtz Wealth Management raised its holdings in shares of Carrier Global by 34.0% in the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock worth $252,000 after purchasing an additional 1,007 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Carrier Global by 15.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 552,713 shares of the company's stock worth $35,042,000 after purchasing an additional 75,555 shares during the period. Institutional investors own 91.00% of the company's stock.

Carrier Global Trading Up 1.5%

Shares of NYSE:CARR traded up $1.13 on Tuesday, reaching $74.32. 5,148,106 shares of the company traded hands, compared to its average volume of 4,675,409. The business's 50-day simple moving average is $70.24 and its 200 day simple moving average is $67.19. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The stock has a market capitalization of $63.72 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 2.05 and a beta of 1.31. 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 announced its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. During the same period last year, the firm earned $0.51 earnings per share. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be paid a $0.225 dividend. The ex-dividend date is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.21%. Carrier Global's payout ratio is presently 13.93%.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of analyst reports. Robert W. Baird boosted their target price on shares of Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Mizuho set a $72.00 target price on shares of Carrier Global in a report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Melius Research initiated coverage on shares of Carrier Global in a report on Tuesday. They set a "hold" rating and a $90.00 target price on the stock. Finally, Royal Bank Of Canada boosted their price target on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and an average price target of $83.82.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's stock in a transaction dated 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 sale, the director directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by 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.