Independence Bank of Kentucky Sells 250 Shares of Carrier Global Co. (NYSE:CARR)

Independence Bank of Kentucky lessened its position in Carrier Global Co. (NYSE:CARR) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,956 shares of the company’s stock after selling 250 shares during the quarter. Independence Bank of Kentucky’s holdings in Carrier Global were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CARR. Brighton Jones LLC boosted its holdings in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after buying an additional 1,850 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Carrier Global by 26.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,179 shares of the company’s stock worth $5,856,000 after purchasing an additional 17,861 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Carrier Global by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,879,036 shares of the company’s stock valued at $128,263,000 after purchasing an additional 16,993 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Carrier Global by 9.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,514 shares of the company’s stock worth $6,247,000 after purchasing an additional 7,680 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $63,000. 91.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the sale, the director now owns 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Barclays boosted their target price on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Royal Bank of Canada upped their price target on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. Wells Fargo & Company increased their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Friday, May 9th. Finally, Robert W. Baird lifted their target price on shares of Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Carrier Global Stock Down 0.4%

CARR opened at $71.09 on Friday. The firm’s 50 day simple moving average is $66.27 and its two-hundred day simple moving average is $67.65. The company has a market capitalization of $60.95 billion, a PE ratio of 11.32, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 1-year low of $54.22 and a 1-year high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. Carrier Global’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, equities analysts forecast that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

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.