Barden Capital Management Inc. Lowers Stake in Carrier Global Co. (NYSE:CARR)

Barden Capital Management Inc. lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 21.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 28,860 shares of the company’s stock after selling 8,016 shares during the period. Carrier Global makes up approximately 1.6% of Barden Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Barden Capital Management Inc.’s holdings in Carrier Global were worth $1,678,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CARR. Nordea Investment Management AB lifted its holdings in Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after buying an additional 476 shares in the last quarter. Andrew Hill Investment Advisors Inc. acquired a new stake in Carrier Global during the 4th quarter worth approximately $2,081,000. Nomura Holdings Inc. acquired a new stake in Carrier Global during the 4th quarter worth approximately $973,000. Finally, AIA Group Ltd lifted its holdings in Carrier Global by 16.5% during the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after buying an additional 14,003 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE:CARR traded down $0.81 during midday trading on Friday, hitting $66.24. The stock had a trading volume of 2,813,813 shares, compared to its average volume of 4,459,150. The company has a market capitalization of $59.68 billion, a PE ratio of 46.32, a P/E/G ratio of 2.63 and a beta of 1.32. The stock has a 50 day moving average price of $64.35 and a two-hundred day moving average price of $59.51. 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 Co. has a 1 year low of $45.68 and a 1 year high of $70.09.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. As a group, equities analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio is currently 53.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday. Oppenheimer raised their price objective on shares of Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Robert W. Baird upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $64.00 to $75.00 in a report on Monday. Finally, Wells Fargo & Company raised their price objective 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and an average target price of $64.93.

Insider Buying and Selling

In related 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 transaction of $9,906,734.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related 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 transaction of $9,906,734.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Kyle Crockett sold 4,611 shares of Carrier Global 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 transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 262,954 shares of company stock valued at $16,650,050. Corporate insiders own 6.95% of the company’s stock.

Carrier Global 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.