Principal Financial Group Inc. Sells 116,037 Shares of Carrier Global Co. (NYSE:CARR)

Principal Financial Group Inc. lowered its position in Carrier Global Co. (NYSE:CARR) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,541,377 shares of the company’s stock after selling 116,037 shares during the quarter. Principal Financial Group Inc. owned about 0.28% of Carrier Global worth $160,310,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CARR. Founders Capital Management LLC boosted its holdings in shares of Carrier Global by 3.4% in the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after buying an additional 175 shares in the last quarter. Manchester Capital Management LLC lifted its stake in Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after acquiring an additional 180 shares during the period. Sunbelt Securities Inc. lifted its stake in Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after acquiring an additional 182 shares during the period. Sovereign Financial Group Inc. lifted its stake in Carrier Global by 4.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock valued at $243,000 after acquiring an additional 188 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in Carrier Global by 2.3% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock valued at $517,000 after acquiring an additional 197 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred 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 directly owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.95% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Oppenheimer upped their target price on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Barclays boosted their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Two investment 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, Carrier Global presently has an average rating of “Hold” and a consensus price target of $67.08.

Carrier Global Stock Up 2.4 %

NYSE CARR traded up $1.69 during trading hours on Friday, reaching $72.78. 3,204,686 shares of the company traded hands, compared to its average volume of 4,259,421. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $73.04. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $65.58 billion, a PE ratio of 50.17, a PEG ratio of 2.63 and a beta of 1.32. The company has a 50 day moving average of $66.13 and a two-hundred day moving average of $61.83.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the firm posted $0.79 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Carrier Global Co. will post 2.84 earnings per share 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 given a $0.19 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.04%. Carrier Global’s dividend payout ratio is presently 53.15%.

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.