Carrier Global Co. (NYSE:CARR) Stock Position Lowered by Foster & Motley Inc.

Foster & Motley Inc. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,788 shares of the company’s stock after selling 735 shares during the period. Foster & Motley Inc.’s holdings in Carrier Global were worth $792,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Carrier Global during the third quarter valued at $28,000. Larson Financial Group LLC increased its holdings in shares of Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in shares of Carrier Global in the third quarter worth approximately $30,000. GHP Investment Advisors Inc. boosted its holdings in shares of Carrier Global by 205.1% during the third quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock worth $31,000 after purchasing an additional 400 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth approximately $32,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CARR. Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays lifted their price objective on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $63.00 target price on shares of Carrier Global in a research report on Thursday, April 18th. Royal Bank of Canada reduced their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Wells Fargo & Company dropped their price objective on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.15.

Carrier Global Stock Performance

NYSE:CARR opened at $55.17 on Wednesday. The firm has a market capitalization of $49.66 billion, a PE ratio of 34.92, a PEG ratio of 2.26 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.87. The firm’s fifty day simple moving average is $56.34 and its 200 day simple moving average is $54.76.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $0.40 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is currently 48.10%.

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.