Sumitomo Mitsui Trust Holdings Inc. Trims Position in Carrier Global Co. (NYSE:CARR)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Carrier Global Co. (NYSE:CARR) by 2.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,096,938 shares of the company’s stock after selling 51,469 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Carrier Global were worth $121,895,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors grew its position in shares of Carrier Global by 3.3% in the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. Capital International Investors grew its holdings in Carrier Global by 0.6% in the 4th quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock valued at $4,657,260,000 after buying an additional 443,568 shares during the period. Fisher Asset Management LLC increased its stake in shares of Carrier Global by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after acquiring an additional 310,453 shares during the last quarter. Norges Bank purchased a new position in shares of Carrier Global during the 4th quarter worth about $444,487,000. Finally, PineStone Asset Management Inc. boosted its position in shares of Carrier Global by 21.6% in the fourth quarter. PineStone Asset Management Inc. now owns 4,752,550 shares of the company’s stock worth $273,034,000 after acquiring an additional 845,622 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the sale, the vice president now owns 85,028 shares in the company, valued at $5,560,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock worth $16,650,050 in the last three months. 6.95% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CARR. Oppenheimer increased their price target on shares of Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Wells Fargo & Company increased their target price on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Barclays boosted their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Robert W. Baird boosted their target price on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Hold” and an average target price of $64.14.

Carrier Global Trading Up 0.9 %

CARR opened at $63.41 on Thursday. The firm has a market capitalization of $57.13 billion, a P/E ratio of 44.34, a P/E/G ratio of 2.46 and a beta of 1.32. The firm’s 50 day moving average is $63.67 and its 200-day moving average is $58.83. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $66.50.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Analysts expect that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Carrier Global Company 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.