Forsta AP Fonden Lowers Stake in Carrier Global Co. (NYSE:CARR)

Forsta AP Fonden lowered its position in shares of Carrier Global Co. (NYSE:CARR) by 42.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,600 shares of the company’s stock after selling 128,800 shares during the quarter. Forsta AP Fonden’s holdings in Carrier Global were worth $10,266,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Carrier Global by 21.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 175,592 shares of the company’s stock valued at $10,207,000 after purchasing an additional 31,558 shares in the last quarter. Empowered Funds LLC raised its position in shares of Carrier Global by 7.3% during the first quarter. Empowered Funds LLC now owns 45,760 shares of the company’s stock valued at $2,660,000 after buying an additional 3,100 shares during the last quarter. AIA Group Ltd raised its position in shares of Carrier Global by 36.6% during the first quarter. AIA Group Ltd now owns 135,222 shares of the company’s stock valued at $7,860,000 after buying an additional 36,263 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Carrier Global by 31.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 33,125 shares of the company’s stock valued at $1,926,000 after buying an additional 7,873 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Carrier Global by 3.5% during the first quarter. Empirical Finance LLC now owns 30,195 shares of the company’s stock valued at $1,755,000 after buying an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insiders Place Their Bets

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the company’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 262,954 shares of company stock worth $16,650,050. 6.95% of the stock is owned by corporate insiders.

Carrier Global Stock Up 1.0 %

Shares of CARR opened at $66.67 on Monday. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $66.99. The firm has a fifty day moving average price of $64.06 and a 200-day moving average price of $59.19. The firm has a market capitalization of $60.07 billion, a P/E ratio of 46.15, a P/E/G ratio of 2.57 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Equities research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.14%. Carrier Global’s dividend payout ratio is presently 53.15%.

Analysts Set New Price Targets

CARR has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. TD Cowen boosted their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Oppenheimer boosted their price target on shares of Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Robert W. Baird upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $64.00 to $75.00 in a research report on Monday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $64.93.

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.