First Citizens Bank & Trust Co. Has $819,000 Stock Position in Carrier Global Co. (NYSE:CARR)

First Citizens Bank & Trust Co. lowered its stake in Carrier Global Co. (NYSE:CARR) by 3.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,172 shares of the company’s stock after selling 311 shares during the period. First Citizens Bank & Trust Co.’s holdings in Carrier Global were worth $819,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CARR. JPMorgan Chase & Co. grew its position in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. Capital International Investors grew its position in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. grew its position in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $58,415,000. Finally, Vanguard Group Inc. grew its position in shares of Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after purchasing an additional 466,829 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $81.55 on Monday. The firm has a 50 day simple moving average of $75.32 and a 200 day simple moving average of $67.30. The company has a market cap of $73.48 billion, a price-to-earnings ratio of 57.03, a PEG 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 has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last released 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 during 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 company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. Research analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. 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 currently 53.15%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CARR shares. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Robert W. Baird reduced their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Oppenheimer increased their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock 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 increased their price target for the stock from $75.00 to $85.00 in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

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.