US Bancorp DE Purchases 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 lifted its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 53.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 509,215 shares of the company's stock after purchasing an additional 176,896 shares during the period. US Bancorp DE owned 0.06% of Carrier Global worth $32,284,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CARR. Syon Capital LLC boosted its holdings in Carrier Global by 2.2% in the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock valued at $484,000 after acquiring an additional 155 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Carrier Global by 1.3% in the first quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock valued at $779,000 after acquiring an additional 156 shares during the last quarter. Code Waechter LLC boosted its holdings in Carrier Global by 5.1% in the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock valued at $214,000 after acquiring an additional 164 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Carrier Global by 0.4% in the first quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock valued at $2,649,000 after acquiring an additional 173 shares during the last quarter. Finally, Beck Mack & Oliver LLC boosted its holdings in Carrier Global by 1.9% in the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company's stock valued at $623,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Down 0.3%

CARR stock traded down $0.17 during mid-day trading on Tuesday, reaching $66.37. The company had a trading volume of 3,658,898 shares, compared to its average volume of 5,190,116. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The stock has a 50 day simple moving average of $73.26 and a two-hundred day simple moving average of $68.30. The company has a market capitalization of $56.48 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.83 and a beta of 1.25. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. As a group, equities analysts predict that Carrier Global Corporation will post 2.99 earnings per share 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. Stockholders of record on Monday, July 21st will be paid 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 payout ratio is currently 19.61%.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CARR. Robert W. Baird cut their target price on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Mizuho set a $72.00 target price on Carrier Global in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their target price on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a research note on Tuesday, July 1st. Finally, Citigroup reissued a "buy" rating and issued a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Seven 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.47.

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.