Robertson Stephens Wealth Management LLC Decreases Holdings in Carrier Global Corporation (NYSE:CARR)

Robertson Stephens Wealth Management LLC lowered its position in Carrier Global Corporation (NYSE:CARR) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,825 shares of the company’s stock after selling 746 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Carrier Global were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CARR. Norges Bank purchased a new stake in shares of Carrier Global in the 4th quarter valued at $588,029,000. Wealthfront Advisers LLC lifted its stake 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 worth $341,300,000 after purchasing an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. boosted its position 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 during the period. Artisan Partners Limited Partnership purchased a new stake in Carrier Global during the fourth quarter valued at about $166,061,000. Finally, Raymond James Financial Inc. bought a new position in shares of Carrier Global during the fourth quarter valued at about $108,433,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction dated 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 sale, the director now owns 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is owned by insiders.

Carrier Global Trading Up 0.0%

NYSE:CARR opened at $69.80 on Friday. The company has a 50-day moving average price of $68.45 and a 200-day moving average price of $67.35. The stock has a market cap of $59.84 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.96 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. During the same period last year, the business posted $0.51 earnings per share. Carrier Global’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be given a dividend of $0.225 per share. The ex-dividend date is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. Carrier Global’s dividend payout ratio is presently 13.93%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CARR. Royal Bank Of Canada increased their target price on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. increased their price objective on Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. The Goldman Sachs Group restated a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Monday, February 24th. Finally, Robert W. Baird increased their price target on shares of Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.00.

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.