Handelsbanken Fonder AB Has $238,000 Stock Position in Carrier Global Co. (NYSE:CARR)

Handelsbanken Fonder AB cut its position in Carrier Global Co. (NYSE:CARR) by 75.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,961 shares of the company’s stock after selling 9,104 shares during the period. Handelsbanken Fonder AB’s holdings in Carrier Global were worth $238,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC bought a new stake in Carrier Global during the 3rd quarter worth approximately $275,000. Apella Capital LLC bought a new stake in shares of Carrier Global during the third quarter worth $235,000. SG Americas Securities LLC increased its stake in shares of Carrier Global by 55.3% in the third quarter. SG Americas Securities LLC now owns 251,226 shares of the company’s stock valued at $20,221,000 after buying an additional 89,448 shares in the last quarter. Czech National Bank raised its holdings in shares of Carrier Global by 7.1% in the third quarter. Czech National Bank now owns 171,027 shares of the company’s stock valued at $13,766,000 after buying an additional 11,350 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of Carrier Global in the second quarter valued at about $436,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CARR. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America boosted their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Wells Fargo & Company increased their price objective on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley initiated coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Finally, Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and an average target price of $79.50.

Carrier Global Price Performance

Carrier Global stock opened at $82.67 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $74.49 billion, a P/E ratio of 57.81, a PEG ratio of 2.94 and a beta of 1.32. The business has a 50-day moving average of $73.93 and a 200-day moving average of $66.62. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $82.95.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.92%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.95% of the stock is currently 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.