Victory Capital Management Inc. Reduces Holdings in Carrier Global Co. (NYSE:CARR)

Victory Capital Management Inc. decreased its holdings in Carrier Global Co. (NYSE:CARR) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,581,993 shares of the company’s stock after selling 91,264 shares during the quarter. Victory Capital Management Inc. owned approximately 0.55% of Carrier Global worth $263,235,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Northern Trust Corp lifted its position in Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after purchasing an additional 289,973 shares during the last quarter. FMR LLC boosted its position in shares of Carrier Global by 18.3% during the third quarter. FMR LLC now owns 6,666,775 shares of the company’s stock worth $368,006,000 after buying an additional 1,033,484 shares during the period. C WorldWide Group Holding A S acquired a new position in shares of Carrier Global during the third quarter worth approximately $260,761,000. JPMorgan Chase & Co. increased its position in Carrier Global by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock valued at $258,438,000 after acquiring an additional 521,189 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Carrier Global by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,576,177 shares of the company’s stock valued at $252,605,000 after acquiring an additional 26,425 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’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 completion of 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 SEC, which can be accessed through the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock traded down $0.57 during trading hours on Wednesday, reaching $60.92. 1,647,043 shares of the company were exchanged, compared to its average volume of 4,868,043. Carrier Global Co. has a 12 month low of $40.28 and a 12 month high of $63.79. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average of $56.88 and a 200 day moving average of $54.94. The firm has a market cap of $54.89 billion, a price-to-earnings ratio of 43.00, a PEG ratio of 2.64 and a beta of 1.39.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 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 the consensus estimate of $6.27 billion. As a group, research analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

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 1.25%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CARR shares. Royal Bank of Canada dropped their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Barclays upped their target price on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Citigroup lifted their price target on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Oppenheimer upped their price objective on Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company lifted their target price on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.62.

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.