Principal Financial Group Inc. Sells 117,026 Shares of Carrier Global Co. (NYSE:CARR)

Principal Financial Group Inc. lessened its stake in Carrier Global Co. (NYSE:CARR - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,673,082 shares of the company's stock after selling 117,026 shares during the period. Principal Financial Group Inc. owned about 0.32% of Carrier Global worth $153,569,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. McClarren Financial Advisors Inc. raised its position in Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company's stock worth $25,000 after purchasing an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global in the fourth quarter worth $25,000. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the 4th quarter valued at about $27,000. Larson Financial Group LLC grew its stake in Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company's stock valued at $28,000 after purchasing an additional 221 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Carrier Global in the third quarter valued at $28,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CARR. Wells Fargo & Company raised their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Friday, April 26th. TD Cowen increased their price target on Carrier Global from $66.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, April 29th. Oppenheimer upped their price target on shares of Carrier Global from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, April 26th. Citigroup raised their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada decreased their price target on Carrier Global from $63.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $62.71.

Insider Activity

In other news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.95% of the company's stock.

Carrier Global Stock Performance

Shares of NYSE CARR traded down $1.17 during midday trading on Monday, hitting $64.33. 3,664,008 shares of the company's stock traded hands, compared to its average volume of 4,777,150. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global Co. has a 1 year low of $40.49 and a 1 year high of $66.32. The stock has a market capitalization of $57.96 billion, a price-to-earnings ratio of 45.46, a price-to-earnings-growth ratio of 2.76 and a beta of 1.34. The firm has a fifty day moving average of $58.28 and a 200 day moving average of $55.72.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. On average, analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. Carrier Global's payout ratio is 53.15%.

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.

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