M&T Bank Corp Sells 18,384 Shares of Carrier Global Co. (NYSE:CARR)

M&T Bank Corp reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 5.8% in the fourth quarter, Holdings Channel reports. The fund owned 298,765 shares of the company’s stock after selling 18,384 shares during the quarter. M&T Bank Corp’s holdings in Carrier Global were worth $17,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC lifted its position in Carrier Global by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 13,293,503 shares of the company’s stock valued at $763,712,000 after purchasing an additional 296,725 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after acquiring an additional 289,973 shares during the last quarter. FMR LLC grew its position in Carrier Global by 18.3% in the third quarter. FMR LLC now owns 6,666,775 shares of the company’s stock worth $368,006,000 after acquiring an additional 1,033,484 shares in the last quarter. C WorldWide Group Holding A S bought a new stake in Carrier Global during the third quarter worth approximately $260,761,000. Finally, JPMorgan Chase & Co. raised its position in Carrier Global by 12.5% during the third quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock valued at $258,438,000 after purchasing an additional 521,189 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen boosted their target price on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Citigroup boosted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada lowered their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company upped their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Oppenheimer raised their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Carrier Global has a consensus rating of “Hold” and a consensus target price of $62.71.

Carrier Global Trading Up 1.9 %

CARR traded up $1.15 during trading on Friday, hitting $62.09. 3,622,875 shares of the stock were exchanged, compared to its average volume of 4,988,253. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a 50 day simple moving average of $57.32 and a 200 day simple moving average of $55.09. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 43.42, a P/E/G ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $63.79.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. As a group, equities analysts expect 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 Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Transactions at Carrier Global

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 541,005 shares of company stock valued at $30,536,214. Company insiders own 6.95% of the company’s stock.

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.