Carrier Global Co. (NYSE:CARR) Stake Lessened by NBT Bank N A NY

NBT Bank N A NY trimmed its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,949 shares of the company’s stock after selling 725 shares during the quarter. NBT Bank N A NY’s holdings in Carrier Global were worth $3,801,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CARR. Norges Bank acquired a new stake in shares of Carrier Global in the 4th quarter valued at about $588,029,000. Wealthfront Advisers LLC increased its holdings in Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after buying an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. raised its stake in Carrier Global by 139.1% during the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock valued at $361,544,000 after buying an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Carrier Global during the 4th quarter worth approximately $166,061,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Carrier Global in the 4th quarter worth approximately $108,433,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the sale, the director now directly owns 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CARR shares. JPMorgan Chase & Co. upped their price target on Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Citigroup dropped their target price on Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada raised their target price on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Finally, Barclays upped their price target on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Carrier Global Trading Down 0.3%

Shares of NYSE:CARR opened at $71.00 on Tuesday. The company has a 50 day moving average of $67.88 and a 200-day moving average of $67.36. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $60.87 billion, a P/E ratio of 11.31, a P/E/G ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a twelve month low of $54.22 and a twelve month high of $83.32.

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

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be issued a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. Carrier Global’s dividend payout ratio (DPR) is 13.93%.

Carrier Global Company 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.