Carrier Global Co. (NYSE:CARR) Stake Trimmed by Waldron Private Wealth LLC

Waldron Private Wealth LLC cut its position in shares of Carrier Global Co. (NYSE:CARR) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,823 shares of the company’s stock after selling 232 shares during the quarter. Waldron Private Wealth LLC’s holdings in Carrier Global were worth $493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CARR. Nordea Investment Management AB grew its holdings in shares of Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after buying an additional 43,002 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Carrier Global during the 4th quarter valued at about $973,000. Versor Investments LP acquired a new position in shares of Carrier Global in the 4th quarter valued at about $1,132,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Carrier Global by 50.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares in the last quarter. Finally, GLOBALT Investments LLC GA acquired a new stake in shares of Carrier Global during the fourth quarter worth approximately $859,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.95% of the company’s stock.

Carrier Global Trading Up 2.4 %

Shares of Carrier Global stock opened at $72.78 on Monday. The company’s fifty day simple moving average is $66.33 and its 200-day simple moving average is $62.05. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $73.04. The company has a market cap of $65.70 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.90 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. As a group, sell-side analysts expect that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.04%. Carrier Global’s dividend payout ratio is currently 53.15%.

Analyst Ratings Changes

Several analysts recently issued reports on CARR shares. Robert W. Baird cut their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Oppenheimer boosted their price target on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $72.00 target price on shares of Carrier Global in a research note on Friday, July 26th. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.08.

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.