Carrier Global Corporation (NYSE:CARR) Stock Holdings Lessened by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has reduced its shares in Carrier Global Corporation by 2.4%, now holding 380,007 shares valued at approximately $24.09 million.
• Insider Director Maximilian Viessmann sold 4.27 million shares at an average price of $70.30, decreasing his stake in the company by 7.28%.
• Carrier Global's stock has seen a significant drop of 10.6%, with recent trading at approximately $71.72 after reporting quarterly earnings that exceeded analysts' expectations.

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 380,007 shares of the company's stock after selling 9,465 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Carrier Global were worth $24,092,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Brown Advisory Inc. boosted its stake in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after purchasing an additional 4,377,402 shares during the period. Invesco Ltd. boosted its stake in Carrier Global by 40.3% during the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock valued at $345,201,000 after acquiring an additional 1,453,247 shares during the last quarter. Northern Trust Corp boosted its stake in Carrier Global by 16.7% during the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock valued at $603,922,000 after acquiring an additional 1,266,137 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Carrier Global by 2,484.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company's stock valued at $76,625,000 after acquiring an additional 1,079,103 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Carrier Global by 7,043.4% during the 1st quarter. GAMMA Investing LLC now owns 1,058,653 shares of the company's stock valued at $67,119,000 after acquiring an additional 1,043,833 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $1.56 during trading hours on Friday, hitting $67.06. 2,288,069 shares of the company's stock traded hands, compared to its average volume of 5,350,810. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.83 and a current ratio of 1.17. The company's fifty day simple moving average is $73.43 and its two-hundred day simple moving average is $68.34. The company has a market cap of $57.49 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.86 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate 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. 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 company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is presently 19.61%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CARR. Robert W. Baird reduced their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. Melius assumed coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective on the stock. Citigroup reissued a "buy" rating and set a $89.00 target price (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Finally, Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a report on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Insider Activity at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm'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 transaction, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 7.20% of the stock is currently owned by insiders.

About Carrier Global

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.