Simmons Bank Sells 277 Shares of Carrier Global Co. (NYSE:CARR)

Simmons Bank decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,985 shares of the company’s stock after selling 277 shares during the quarter. Simmons Bank’s holdings in Carrier Global were worth $631,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CARR. Modera Wealth Management LLC boosted its position in Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after acquiring an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in Carrier Global by 9.0% in the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after purchasing an additional 476 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Carrier Global during the fourth quarter valued at about $2,081,000. abrdn plc boosted its holdings in shares of Carrier Global by 40.6% in the 4th quarter. abrdn plc now owns 751,661 shares of the company’s stock valued at $43,183,000 after buying an additional 217,144 shares in the last quarter. Finally, AIA Group Ltd grew its position in shares of Carrier Global by 16.5% in the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after buying an additional 14,003 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Ratings Changes

CARR has been the subject of a number of research analyst reports. Barclays increased their price target on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wells Fargo & Company lifted their target price 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, April 26th. Royal Bank of Canada cut 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 note on Wednesday, February 7th. Robert W. Baird boosted their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, TD Cowen raised their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.71.

Carrier Global Price Performance

Shares of CARR traded up $0.04 during trading hours on Wednesday, hitting $64.30. 1,424,398 shares of the stock were exchanged, compared to its average volume of 4,825,093. The stock’s 50-day moving average price is $57.53 and its two-hundred day moving average price is $55.24. Carrier Global Co. has a 12-month low of $40.49 and a 12-month high of $64.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The company has a market cap of $57.93 billion, a price-to-earnings ratio of 44.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Buying and Selling

In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the company’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 transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global 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 sale, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 541,005 shares of company stock worth $30,536,214. Insiders own 6.95% of the company’s stock.

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.