Clearbridge Investments LLC Sells 200 Shares of Carrier Global Co. (NYSE:CARR)

Clearbridge Investments LLC cut its position in Carrier Global Co. (NYSE:CARR) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,282 shares of the company’s stock after selling 200 shares during the quarter. Clearbridge Investments LLC’s holdings in Carrier Global were worth $4,376,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. increased its stake in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 202 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $27,000. Criterion Capital Advisors LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $32,000. Finally, Planned Solutions Inc. acquired a new stake in Carrier Global during the fourth quarter worth approximately $33,000. 91.00% of the stock is currently owned by institutional investors.

Insider Activity at Carrier Global

In related news, insider Jurgen Timperman sold 159,915 shares of the firm’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 Securities & Exchange Commission, which is accessible through the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 262,954 shares of company stock valued at $16,650,050. 6.95% of the stock is owned by insiders.

Carrier Global Stock Down 3.6 %

Carrier Global stock traded down $2.39 during mid-day trading on Thursday, reaching $63.60. The stock had a trading volume of 683,070 shares, compared to its average volume of 4,424,412. The firm has a market capitalization of $57.30 billion, a PE ratio of 46.15, a price-to-earnings-growth ratio of 2.66 and a beta of 1.32. 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 fifty-two week low of $45.68 and a fifty-two week high of $70.09. The stock’s 50-day simple moving average is $64.50 and its 200-day simple moving average is $59.79.

Carrier Global (NYSE:CARR) last announced its 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 net margin of 5.41% and a return on equity of 26.01%. The company had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. On average, sell-side analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be given a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. Carrier Global’s dividend payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Oppenheimer raised their target price on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Finally, TD Cowen raised their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.93.

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.