Means Investment CO. Inc. Lowers Stake in Carrier Global Co. (NYSE:CARR)

Means Investment CO. Inc. reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 1.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,584 shares of the company’s stock after selling 237 shares during the period. Means Investment CO. Inc.’s holdings in Carrier Global were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC raised its stake in Carrier Global by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,278 shares of the company’s stock worth $73,000 after purchasing an additional 295 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Carrier Global by 6.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 75,197 shares of the company’s stock valued at $4,320,000 after purchasing an additional 4,512 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Carrier Global by 62.1% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,965 shares of the company’s stock worth $113,000 after buying an additional 753 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Carrier Global by 16.4% during the 4th quarter. Federated Hermes Inc. now owns 4,537 shares of the company’s stock valued at $261,000 after purchasing an additional 638 shares during the period. Finally, Fidelis Capital Partners LLC grew its holdings in Carrier Global by 11.7% during the fourth quarter. Fidelis Capital Partners LLC now owns 8,035 shares of the company’s stock worth $462,000 after acquiring an additional 841 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Carrier Global stock traded up $1.26 during mid-day trading on Monday, hitting $68.64. 2,626,900 shares of the company were exchanged, compared to its average volume of 4,354,354. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $70.09. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $65.02 and a 200 day moving average of $60.97. The company has a market capitalization of $61.85 billion, a PE ratio of 47.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.79 earnings per share. As a group, sell-side analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 21st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Robert W. Baird decreased their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. TD Cowen upped their target price on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $72.00 price target on shares of Carrier Global in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.08.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The shares were 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 of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction 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 approximately $135,568.38. The disclosure for this sale can be found here. Company 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.