TIAA Trust National Association Sells 1,784 Shares of Carrier Global Co. (NYSE:CARR)

TIAA Trust National Association decreased its position in Carrier Global Co. (NYSE:CARR) by 4.9% during the first quarter, HoldingsChannel reports. The firm owned 34,364 shares of the company’s stock after selling 1,784 shares during the quarter. TIAA Trust National Association’s holdings in Carrier Global were worth $1,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Manchester Capital Management LLC boosted its holdings in Carrier Global by 4.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after purchasing an additional 180 shares during the period. Sunbelt Securities Inc. lifted its holdings 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 purchasing an additional 182 shares during the last quarter. Graypoint LLC boosted its holdings in shares of Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after acquiring an additional 184 shares in the last quarter. Sovereign Financial Group Inc. grew its stake in shares of Carrier Global by 4.7% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock valued at $243,000 after purchasing an additional 188 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in Carrier Global by 2.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock valued at $517,000 after buying an additional 197 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Carrier Global stock traded up $1.34 during mid-day trading on Monday, reaching $67.58. The company had a trading volume of 1,170,905 shares, compared to its average volume of 4,435,494. The business has a fifty day simple moving average of $64.35 and a 200 day simple moving average of $59.57. The company has a market cap of $60.89 billion, a P/E ratio of 46.99, a P/E/G ratio of 2.58 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $70.09.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping 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 business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. On average, equities research analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Robert W. Baird upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $64.00 to $75.00 in a report on Monday, July 15th. Wells Fargo & Company raised their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Oppenheimer boosted their target price on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus price target of $64.93.

Insider Activity

In other news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock valued at $16,650,050 in the last ninety days. 6.95% of the stock is owned by company insiders.

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.