Stock Yards Bank & Trust Co. Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Stock Yards Bank & Trust Co. reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,942 shares of the company’s stock after selling 1,366 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Carrier Global were worth $571,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CARR. OFI Invest Asset Management acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC grew its stake in Carrier Global by 76.2% during 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 in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $30,000. GHP Investment Advisors Inc. grew its stake in Carrier Global by 205.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock valued at $31,000 after purchasing an additional 400 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in Carrier Global during the 4th quarter valued at approximately $32,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Up 2.9 %

NYSE:CARR opened at $55.17 on Wednesday. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $60.87. The firm has a market capitalization of $49.66 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.26 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. The business has a 50 day simple moving average of $56.34 and a 200 day simple moving average of $54.76.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities research analysts predict 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. Stockholders of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 48.10%.

Insider Transactions at Carrier Global

In other news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction on 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 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 accessible through this link. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $63.00 target price on shares of Carrier Global in a research report on Thursday, April 18th. Citigroup lifted their target price on 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 target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company decreased their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada decreased their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.15.

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.