Chemung Canal Trust Co. Buys 220 Shares of Carrier Global Co. (NYSE:CARR)

Chemung Canal Trust Co. grew its stake in Carrier Global Co. (NYSE:CARR) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,915 shares of the company’s stock after acquiring an additional 220 shares during the period. Chemung Canal Trust Co.’s holdings in Carrier Global were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Modera Wealth Management LLC raised its stake in shares of Carrier Global by 19.4% during the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after buying an additional 3,430 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in Carrier Global by 9.0% in the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares in the last quarter. Andrew Hill Investment Advisors Inc. bought a new stake in Carrier Global in the fourth quarter valued at approximately $2,081,000. Nomura Holdings Inc. bought a new stake in Carrier Global in the fourth quarter valued at approximately $973,000. Finally, AIA Group Ltd increased its stake in Carrier Global by 16.5% in the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after purchasing an additional 14,003 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Carrier Global

In other news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders sold a total of 262,954 shares of company stock worth $16,650,050 over the last quarter. 6.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CARR shares. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Oppenheimer upped their target price on shares of Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird upped their target price on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays upped their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, TD Cowen upped their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.14.

Carrier Global Stock Performance

Shares of CARR opened at $63.08 on Friday. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $66.50. The firm has a fifty day simple moving average of $63.18 and a 200 day simple moving average of $58.70. The stock has a market capitalization of $56.84 billion, a price-to-earnings ratio of 44.11, a PEG ratio of 2.55 and a beta of 1.33. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) 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 firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Research analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio is currently 53.15%.

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.