Osaic Holdings Inc. Trims Holdings in Carrier Global Co. (NYSE:CARR)

Osaic Holdings Inc. cut its position in shares of Carrier Global Co. (NYSE:CARR) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 354,324 shares of the company’s stock after selling 39,247 shares during the quarter. Osaic Holdings Inc.’s holdings in Carrier Global were worth $20,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Norges Bank purchased a new stake in Carrier Global during the 4th quarter worth $444,487,000. Capital Research Global Investors boosted its position in shares of Carrier Global by 3.3% in the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares during the period. Bristol Gate Capital Partners Inc. acquired a new position in Carrier Global during the 4th quarter worth approximately $92,651,000. Finally, Impax Asset Management Group plc lifted its position in shares of Carrier Global by 47.8% during the fourth quarter. Impax Asset Management Group plc now owns 3,306,877 shares of the company’s stock worth $189,980,000 after purchasing an additional 1,070,036 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CARR shares. Oppenheimer raised their price objective on Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. TD Cowen increased their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company boosted their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Barclays increased their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus price target of $64.93.

Carrier Global Price Performance

Shares of Carrier Global stock traded up $1.76 during trading on Monday, hitting $68.00. The stock had a trading volume of 2,932,533 shares, compared to its average volume of 4,448,167. The business has a fifty day moving average of $64.35 and a two-hundred day moving average of $59.57. The firm has a market cap of $61.27 billion, a P/E ratio of 46.99, a PEG ratio of 2.58 and a beta of 1.32. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $70.09. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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 company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, sell-side analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.12%. Carrier Global’s payout ratio is presently 53.15%.

Insiders Place Their Bets

In related news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction that occurred on 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 is accessible through the SEC website. In other news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were 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 of the company’s stock, valued at $5,560,831.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was 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. Insiders sold a total of 262,954 shares of company stock worth $16,650,050 over the last ninety days. 6.95% of the stock is currently owned by company insiders.

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.