Carrier Global Co. (NYSE:CARR) Stake Lessened by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated cut its stake in Carrier Global Co. (NYSE:CARR) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 9,987 shares of the company’s stock after selling 286 shares during the period. Silver Oak Securities Incorporated’s holdings in Carrier Global were worth $574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CARR. Russell Investments Group Ltd. boosted its stake in Carrier Global by 1.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,489,686 shares of the company’s stock worth $85,624,000 after purchasing an additional 16,950 shares during the period. Addison Advisors LLC boosted its stake in Carrier Global by 60.1% in the 4th quarter. Addison Advisors LLC now owns 3,299 shares of the company’s stock worth $190,000 after purchasing an additional 1,238 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Carrier Global by 53.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 8,931 shares of the company’s stock worth $513,000 after purchasing an additional 3,126 shares during the period. Mountain Pacific Investment Advisers Inc. ID boosted its stake in Carrier Global by 18.1% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 10,730 shares of the company’s stock worth $616,000 after purchasing an additional 1,645 shares during the period. Finally, Kovack Advisors Inc. boosted its stake in Carrier Global by 29.4% in the 4th quarter. Kovack Advisors Inc. now owns 7,162 shares of the company’s stock worth $411,000 after purchasing an additional 1,629 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 3.8 %

Carrier Global stock opened at $62.77 on Tuesday. The company has a market capitalization of $56.56 billion, a P/E ratio of 43.90, a P/E/G ratio of 2.53 and a beta of 1.39. The firm’s fifty day simple moving average is $56.72 and its 200-day simple moving average is $54.88. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $62.88.

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

Carrier Global Dividend Announcement

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 paid a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.21%. Carrier Global’s payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday. Oppenheimer increased their target price 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 target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada cut their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, 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. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.62.

Insider Activity at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the firm’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 completion of 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. 6.95% of the stock is currently owned by company insiders.

Carrier Global 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.