US Bancorp DE Buys 176,896 Shares of Carrier Global Corporation (NYSE:CARR)

Key Points

• US Bancorp DE increased its stake in Carrier Global Corporation by 53.2%, owning approximately 509,215 shares worth $32.28 million.
• Carrier Global reported an earnings per share (EPS) of $0.92 for the last quarter, exceeding analysts' expectations of $0.90.
• The company declared a quarterly dividend of $0.225 per share, with a dividend yield of 1.3% and a payout ratio of 19.61%.

US Bancorp DE increased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 53.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 509,215 shares of the company's stock after purchasing an additional 176,896 shares during the quarter. US Bancorp DE owned approximately 0.06% of Carrier Global worth $32,284,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CARR. Nicolet Advisory Services LLC grew its position in shares of Carrier Global by 59.3% in the 1st quarter. Nicolet Advisory Services LLC now owns 14,401 shares of the company's stock worth $850,000 after buying an additional 5,360 shares during the last quarter. Abacus Wealth Partners LLC grew its holdings in Carrier Global by 10.6% in the first quarter. Abacus Wealth Partners LLC now owns 3,817 shares of the company's stock worth $242,000 after purchasing an additional 365 shares during the last quarter. Davis R M Inc. lifted its holdings in shares of Carrier Global by 17.5% during the 1st quarter. Davis R M Inc. now owns 3,567 shares of the company's stock valued at $226,000 after purchasing an additional 530 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Carrier Global by 4.5% in the 1st quarter. Natixis Advisors LLC now owns 256,715 shares of the company's stock worth $16,276,000 after purchasing an additional 11,117 shares in the last quarter. Finally, NorthRock Partners LLC grew its stake in Carrier Global by 2.5% during the 1st quarter. NorthRock Partners LLC now owns 16,168 shares of the company's stock worth $1,025,000 after buying an additional 398 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global 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 completion of the transaction, the director directly owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CARR. JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Mizuho set a $72.00 target price on Carrier Global in a research report on Tuesday, April 22nd. Robert W. Baird reduced their target price on Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Wells Fargo & Company boosted their price target on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, Barclays reduced their price objective on Carrier Global from $84.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.47.

Carrier Global Stock Performance

Carrier Global stock traded up $0.29 during trading hours on Thursday, hitting $66.40. The stock had a trading volume of 3,848,419 shares, compared to its average volume of 5,327,159. The company has a market cap of $56.51 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.82 and a beta of 1.25. 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 50-day moving average of $73.04 and a two-hundred day moving average of $68.27. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is presently 19.61%.

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.