Cornerstone Wealth Management LLC Trims Stock Holdings in Carrier Global Co. (NYSE:CARR)

Cornerstone Wealth Management LLC decreased its holdings in Carrier Global Co. (NYSE:CARR) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,002 shares of the company’s stock after selling 347 shares during the period. Cornerstone Wealth Management LLC’s holdings in Carrier Global were worth $483,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $209,000. Nomura Holdings Inc. bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $973,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Carrier Global by 10.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 3,124 shares of the company’s stock valued at $182,000 after acquiring an additional 288 shares during the period. American National Bank boosted its position in shares of Carrier Global by 110.3% in the first quarter. American National Bank now owns 2,090 shares of the company’s stock valued at $121,000 after acquiring an additional 1,096 shares during the period. Finally, RFG Advisory LLC boosted its position in shares of Carrier Global by 14.9% in the first quarter. RFG Advisory LLC now owns 5,779 shares of the company’s stock valued at $336,000 after acquiring an additional 749 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.1 %

CARR stock opened at $81.55 on Friday. The company has a market capitalization of $73.48 billion, a PE ratio of 57.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a one year low of $45.68 and a one year high of $83.32. The company’s 50 day moving average price is $75.32 and its two-hundred day moving average price is $67.15. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate 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 was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.95% of the stock is owned by insiders.

Analyst Ratings Changes

CARR has been the subject of a number of analyst reports. Bank of America raised their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Stephens lowered shares of Carrier Global from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $75.00 to $85.00 in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

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.