M. Kraus & Co Sells 3,052 Shares of Carrier Global Co. (NYSE:CARR)

M. Kraus & Co reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 149,937 shares of the company’s stock after selling 3,052 shares during the quarter. Carrier Global comprises approximately 3.5% of M. Kraus & Co’s holdings, making the stock its 6th biggest position. M. Kraus & Co’s holdings in Carrier Global were worth $12,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARR. Olistico Wealth LLC purchased a new position in Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. lifted its stake in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares in the last quarter. Country Trust Bank purchased a new position in Carrier Global in the 3rd quarter worth approximately $40,000. EdgeRock Capital LLC purchased a new position in Carrier Global in the 2nd quarter worth approximately $32,000. Finally, Hantz Financial Services Inc. purchased a new position in Carrier Global in the 2nd quarter worth approximately $35,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the 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 transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday. They issued a “neutral” rating and a $83.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.50.

Carrier Global Price Performance

Shares of NYSE CARR traded up $1.01 on Monday, hitting $82.62. The company’s stock had a trading volume of 548,709 shares, compared to its average volume of 4,147,348. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $82.66. The company has a market capitalization of $74.44 billion, a price-to-earnings ratio of 57.27, a price-to-earnings-growth ratio of 2.94 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. The stock has a 50 day moving average of $73.54 and a 200-day moving average of $66.44.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is 53.15%.

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.