State of Tennessee Treasury Department Lowers Holdings in Carrier Global Co. (NYSE:CARR)

State of Tennessee Treasury Department cut its position in Carrier Global Co. (NYSE:CARRFree Report) by 33.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,729 shares of the company’s stock after selling 155,214 shares during the quarter. State of Tennessee Treasury Department’s holdings in Carrier Global were worth $17,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CARR. Canada Pension Plan Investment Board lifted its stake in Carrier Global by 27.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 305,497 shares of the company’s stock worth $16,863,000 after purchasing an additional 66,000 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Carrier Global during the 3rd quarter valued at $66,000. Blair William & Co. IL raised its position in shares of Carrier Global by 2.6% during the 3rd quarter. Blair William & Co. IL now owns 70,406 shares of the company’s stock valued at $3,886,000 after buying an additional 1,761 shares in the last quarter. Citigroup Inc. raised its position in shares of Carrier Global by 13.4% during the 3rd quarter. Citigroup Inc. now owns 644,945 shares of the company’s stock valued at $35,601,000 after buying an additional 76,400 shares in the last quarter. Finally, Greenleaf Trust raised its position in shares of Carrier Global by 8.9% during the 3rd quarter. Greenleaf Trust now owns 23,406 shares of the company’s stock valued at $1,292,000 after buying an additional 1,920 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $62.58 on Tuesday. The company’s fifty day simple moving average is $60.93 and its two-hundred day simple moving average is $57.70. The firm has a market cap of $56.39 billion, a PE ratio of 43.76, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a 12-month low of $44.90 and a 12-month high of $66.50.

Carrier Global (NYSE:CARRGet Free Report) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for 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 analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CARR. Robert W. Baird raised their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Barclays raised their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. TD Cowen increased their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.71.

View Our Latest Analysis on Carrier Global

Insider Activity

In related news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,954 shares of company stock valued at $16,650,050. Corporate insiders own 6.95% of the company’s stock.

About Carrier Global

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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