Manning & Napier Advisors LLC Sells 309 Shares of Carrier Global Corporation (NYSE:CARR)

Manning & Napier Advisors LLC cut its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 4.4% during the 1st quarter, HoldingsChannel reports. The fund owned 6,691 shares of the company’s stock after selling 309 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Carrier Global were worth $424,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. lifted its stake in shares of Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after acquiring an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake 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 worth $26,000 after purchasing an additional 180 shares during the period. Park Square Financial Group LLC purchased a new position in Carrier Global in the 4th quarter worth approximately $28,000. Mattson Financial Services LLC bought a new stake in Carrier Global in the fourth quarter valued at approximately $31,000. Finally, Investment Research & Advisory Group Inc. purchased a new stake in shares of Carrier Global during the first quarter valued at approximately $29,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Wells Fargo & Company raised their price target on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. The Goldman Sachs Group restated a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. JPMorgan Chase & Co. upped their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Finally, Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Carrier Global Price Performance

Shares of NYSE CARR opened at $71.83 on Tuesday. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The stock has a market capitalization of $61.58 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.98 and a beta of 1.33. The company’s 50-day moving average is $68.90 and its 200 day moving average is $67.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business’s revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that Carrier Global Corporation will post 2.99 earnings per share 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 1.25%. Carrier Global’s dividend payout ratio is presently 13.93%.

Insider Buying and Selling

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

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.