Stevens Capital Management LP Sells 2,420 Shares of Carrier Global Co. (NYSE:CARR)

Stevens Capital Management LP decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 30.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,521 shares of the company’s stock after selling 2,420 shares during the quarter. Stevens Capital Management LP’s holdings in Carrier Global were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. raised its holdings in shares of Carrier Global by 0.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after acquiring an additional 181 shares in the last quarter. Graypoint LLC boosted its position in Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after purchasing an additional 184 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its position in Carrier Global by 16.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock worth $80,000 after purchasing an additional 200 shares in the last quarter. Operose Advisors LLC boosted its position in Carrier Global by 44.4% in the 3rd quarter. Operose Advisors LLC now owns 650 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Boston Financial Mangement LLC raised its stake in shares of Carrier Global by 2.2% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock worth $519,000 after buying an additional 201 shares during the period. Institutional investors own 91.00% of the company’s stock.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction 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 transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CARR. Wells Fargo & Company upped their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday. Oppenheimer raised their target price on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays lifted their price target on 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 lowered their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Citigroup upped their price objective on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Hold” and an average price target of $62.00.

Carrier Global Trading Up 1.2 %

Shares of CARR stock traded up $0.70 during trading hours on Friday, reaching $60.51. The company had a trading volume of 6,683,432 shares, compared to its average volume of 4,818,077. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87. The company has a 50 day moving average of $56.41 and a 200 day moving average of $54.79. The firm has a market cap of $54.47 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 2.31 and a beta of 1.39.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. On average, equities research analysts anticipate that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.26%. Carrier Global’s dividend payout ratio is presently 48.10%.

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.