Malaga Cove Capital LLC Trims Position in Carrier Global Corporation (NYSE:CARR)

Malaga Cove Capital LLC lessened its stake in shares of Carrier Global Corporation (NYSE:CARR) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,948 shares of the company’s stock after selling 213 shares during the period. Malaga Cove Capital LLC’s holdings in Carrier Global were worth $441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE raised its holdings in Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the period. Park Square Financial Group LLC purchased a new stake in Carrier Global in the 4th quarter valued at about $28,000. Investment Research & Advisory Group Inc. purchased a new stake in Carrier Global in the 1st quarter valued at about $29,000. Mattson Financial Services LLC purchased a new stake in Carrier Global in the 4th quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Carrier Global in the 4th quarter valued at about $35,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carrier Global 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 value of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CARR. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Friday, May 9th. Barclays dropped their target price on Carrier Global from $84.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company lifted their target price on Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.47.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $66.90 on Friday. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company has a market cap of $56.93 billion, a PE ratio of 14.58, a P/E/G ratio of 1.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.83 and a current ratio of 1.17. The business has a 50-day simple moving average of $73.35 and a 200-day simple moving average of $68.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. On average, equities research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, July 21st. Carrier Global’s dividend payout ratio is currently 19.61%.

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.