Carrier Global Co. (NYSE:CARR) Holdings Trimmed by OLD National Bancorp IN

OLD National Bancorp IN trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 9.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,021 shares of the company’s stock after selling 705 shares during the period. OLD National Bancorp IN’s holdings in Carrier Global were worth $403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC grew its position in Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after purchasing an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc boosted its stake in shares of Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after buying an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Carrier Global during the 4th quarter valued at $2,081,000. abrdn plc boosted its stake in shares of Carrier Global by 40.6% during the 4th quarter. abrdn plc now owns 751,661 shares of the company’s stock valued at $43,183,000 after buying an additional 217,144 shares during the period. Finally, AIA Group Ltd boosted its stake in shares of Carrier Global by 16.5% during the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after buying an additional 14,003 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Down 0.7 %

Carrier Global stock opened at $54.77 on Thursday. The firm has a fifty day moving average price of $56.34 and a two-hundred day moving average price of $54.76. The firm has a market cap of $49.30 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 2.26 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. Carrier Global Co. has a fifty-two week low of $40.28 and a fifty-two week high of $60.87.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. As a group, analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is presently 48.10%.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CARR. Citigroup lifted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Barclays lifted their target price on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reduced their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Carrier Global has an average rating of “Hold” and an average price target of $61.15.

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.