Primecap Management Co. CA Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Primecap Management Co. CA decreased its holdings in Carrier Global Co. (NYSE:CARR) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,337,462 shares of the company’s stock after selling 478,900 shares during the quarter. Primecap Management Co. CA owned 0.48% of Carrier Global worth $249,187,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Modera Wealth Management LLC grew its stake in shares of Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after purchasing an additional 3,430 shares during the period. Pinnacle Financial Partners Inc grew its stake in shares of Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. bought a new stake in shares of Carrier Global during the 4th quarter valued at about $2,081,000. AIA Group Ltd grew its stake in shares of Carrier Global by 16.5% during the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after purchasing an additional 14,003 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Carrier Global during the 4th quarter valued at about $1,132,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In related news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. Insiders have sold a total of 262,954 shares of company stock valued at $16,650,050 over the last quarter. 6.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CARR. Oppenheimer boosted their price objective on Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Citigroup boosted their price objective on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada lowered their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Cowen boosted their price target on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company boosted their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.71.

Carrier Global Trading Up 2.0 %

Carrier Global stock traded up $1.30 during mid-day trading on Friday, hitting $65.65. The company’s stock had a trading volume of 2,161,625 shares, compared to its average volume of 4,239,807. The company has a 50 day moving average of $59.81 and a 200-day moving average of $56.82. The stock has a market cap of $59.15 billion, a PE ratio of 45.91, a P/E/G ratio of 2.60 and a beta of 1.34. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global Co. has a one year low of $40.49 and a one year high of $66.50.

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

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

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.