Vontobel Holding Ltd. Sells 81,282 Shares of Carrier Global Corporation (NYSE:CARR)

Vontobel Holding Ltd. reduced its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 602,393 shares of the company's stock after selling 81,282 shares during the period. Vontobel Holding Ltd. owned about 0.07% of Carrier Global worth $38,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in Carrier Global by 15.7% in the first quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after buying an additional 3,900 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Carrier Global by 27.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after acquiring an additional 285,803 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Carrier Global in the first quarter worth approximately $234,000. Ritholtz Wealth Management increased its stake in shares of Carrier Global by 34.0% during 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Carrier Global by 15.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 552,713 shares of the company's stock valued at $35,042,000 after purchasing an additional 75,555 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CARR. JPMorgan Chase & Co. increased their target price on shares of Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. 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 research note on Friday, May 9th. Mizuho set a $72.00 price objective on Carrier Global in a research note on Tuesday, April 22nd. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Finally, Barclays increased their price target on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.82.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on 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 transaction, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by company insiders.

Carrier Global Stock Performance

Shares of CARR traded up $1.13 during trading hours on Tuesday, reaching $74.32. 5,148,106 shares of the company traded hands, compared to its average volume of 4,668,126. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. The stock's fifty day moving average is $70.24 and its 200 day moving average is $67.19. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The stock has a market cap of $63.72 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The company's revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently declared 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 is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.21%. Carrier Global's dividend payout ratio is currently 13.93%.

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.