Burney Co. Sells 1,055 Shares of Carrier Global Co. (NYSE:CARR)

Burney Co. lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,852 shares of the company’s stock after selling 1,055 shares during the period. Burney Co.’s holdings in Carrier Global were worth $1,441,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global in the 4th quarter worth about $25,000. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter valued at about $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $27,000. United Community Bank acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $34,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Carrier Global in the first quarter valued at about $34,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $72.00 target price on shares of Carrier Global in a research report on Friday, July 26th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Robert W. Baird cut their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Barclays increased their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Hold” and an average price target of $67.08.

Carrier Global Price Performance

CARR stock opened at $71.99 on Friday. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $72.27. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $64.86 billion, a P/E ratio of 49.71, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32. The firm has a 50 day moving average of $66.13 and a 200-day moving average of $61.83.

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

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were given a dividend of $0.19 per share. The ex-dividend date was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.06%. Carrier Global’s payout ratio is presently 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.