CIBC Asset Management Inc cut its position in Carrier Global Co. (NYSE:CARR – Get Rating) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,668 shares of the company’s stock after selling 8,557 shares during the period. CIBC Asset Management Inc’s holdings in Carrier Global were worth $5,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in CARR. IndexIQ Advisors LLC acquired a new position in Carrier Global during the first quarter worth $57,000. Independent Advisor Alliance boosted its stake in Carrier Global by 9.9% during the first quarter. Independent Advisor Alliance now owns 11,027 shares of the company’s stock worth $506,000 after buying an additional 995 shares during the last quarter. Barden Capital Management Inc. boosted its stake in Carrier Global by 2.5% during the first quarter. Barden Capital Management Inc. now owns 25,258 shares of the company’s stock worth $1,159,000 after buying an additional 616 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Carrier Global by 37.9% during the first quarter. IFM Investors Pty Ltd now owns 149,317 shares of the company’s stock worth $6,849,000 after buying an additional 41,022 shares during the last quarter. Finally, Weil Company Inc. purchased a new stake in Carrier Global in the first quarter valued at $250,000. 85.55% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on CARR shares. Jefferies Financial Group reduced their target price on Carrier Global from $55.00 to $47.00 in a research report on Friday, July 15th. KeyCorp reduced their target price on Carrier Global from $48.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Deutsche Bank Aktiengesellschaft cut their price objective on Carrier Global from $49.00 to $43.00 in a report on Monday, July 18th. Morgan Stanley boosted their price objective on Carrier Global from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Finally, Wells Fargo & Company boosted their price objective on Carrier Global from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, August 1st. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.73.
Carrier Global Trading Up 0.2 %
Carrier Global Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Thursday, June 23rd will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, June 22nd. This represents a $0.60 annualized dividend and a dividend yield of 1.43%. Carrier Global’s dividend payout ratio is currently 19.11%.
Carrier Global Company Profile
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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