Cypress Capital Management LLC WY Trims Stake in Carrier Global Co. (NYSE:CARR)

Cypress Capital Management LLC WY lowered its stake in Carrier Global Co. (NYSE:CARR) by 26.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,810 shares of the company’s stock after selling 1,000 shares during the quarter. Cypress Capital Management LLC WY’s holdings in Carrier Global were worth $161,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. lifted its stake in shares of Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Carrier Global during the third quarter valued at about $28,000. Larson Financial Group LLC grew its stake in shares of Carrier Global by 76.2% during the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Carrier Global during the third quarter valued at about $30,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Carrier Global during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock traded up $2.12 during mid-day trading on Monday, hitting $62.62. The company’s stock had a trading volume of 6,717,888 shares, compared to its average volume of 4,835,024. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $56.42 billion, a P/E ratio of 43.64, a P/E/G ratio of 2.53 and a beta of 1.39. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $62.71. The stock’s fifty day moving average price is $56.54 and its two-hundred day moving average price is $54.82.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Research analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.21%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were 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 approximately $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were 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 approximately $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup raised their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Oppenheimer increased their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays increased their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company increased their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, TD Cowen increased their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.62.

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.