Insider Selling: Carrier Global Co. (NYSE:CARR) VP Sells $4,026,758.10 in Stock

Carrier Global Co. (NYSE:CARR) VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carrier Global Trading Down 0.2 %

CARR stock opened at $64.38 on Monday. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $70.09. The firm’s 50-day moving average is $64.63 and its 200 day moving average is $60.60. The company has a market capitalization of $58.01 billion, a PE ratio of 45.02, a P/E/G ratio of 2.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. On average, research analysts anticipate that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 21st were issued a $0.19 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.18%. Carrier Global’s payout ratio is currently 53.15%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CARR. 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 report on Friday, April 26th. TD Cowen upped their price objective on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Oppenheimer dropped their target price on Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $66.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 17,021,768 shares in the last quarter. Norges Bank purchased a new stake in Carrier Global during the fourth quarter worth $444,487,000. Capital International Investors boosted its position in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. boosted its position in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after acquiring an additional 2,961,923 shares during the period. 91.00% of the stock is currently owned by institutional investors.

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.