PGGM Investments Lowers Position in Carrier Global Co. (NYSE:CARR)

PGGM Investments trimmed its stake in Carrier Global Co. (NYSE:CARR) by 7.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 115,160 shares of the company’s stock after selling 9,885 shares during the quarter. PGGM Investments’ holdings in Carrier Global were worth $6,616,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CARR. Avior Wealth Management LLC grew its stake in Carrier Global by 41.2% during the third quarter. Avior Wealth Management LLC now owns 983 shares of the company’s stock worth $54,000 after buying an additional 287 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Carrier Global by 1.9% in the third quarter. Asset Management One Co. Ltd. now owns 430,095 shares of the company’s stock valued at $23,741,000 after purchasing an additional 7,984 shares during the period. Simplicity Solutions LLC boosted its stake in shares of Carrier Global by 5.6% in the third quarter. Simplicity Solutions LLC now owns 29,604 shares of the company’s stock valued at $1,634,000 after purchasing an additional 1,565 shares during the period. Ballentine Partners LLC boosted its stake in shares of Carrier Global by 4.2% in the third quarter. Ballentine Partners LLC now owns 7,318 shares of the company’s stock valued at $404,000 after purchasing an additional 298 shares during the period. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Carrier Global by 5.8% in the third quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the company’s stock valued at $584,000 after purchasing an additional 584 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Carrier Global Price Performance

CARR traded up $0.69 on Friday, reaching $60.50. The company had a trading volume of 6,684,176 shares, compared to its average volume of 4,318,700. The company has a fifty day moving average of $56.54 and a 200-day moving average of $54.83. The company has a market capitalization of $54.46 billion, a P/E ratio of 42.31, a PEG ratio of 2.53 and a beta of 1.39. The company has a current ratio of 1.36, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a one year low of $40.28 and a one year high of $60.87.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CARR. Royal Bank of Canada decreased 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 note on Wednesday, February 7th. Wells Fargo & Company upped their target price on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday. Oppenheimer upped their price target on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Friday. Barclays upped their price target on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Friday. 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 report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Hold” and a consensus target price of $62.00.

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.