Cwm LLC Sells 6,539 Shares of Carrier Global Co. (NYSE:CARR)

Cwm LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,191 shares of the company’s stock after selling 6,539 shares during the period. Cwm LLC’s holdings in Carrier Global were worth $3,515,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Larson Financial Group LLC lifted its stake in Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares in the last quarter. OFI Invest Asset Management bought a new stake in Carrier Global in the 3rd quarter valued at approximately $28,000. VisionPoint Advisory Group LLC bought a new stake in Carrier Global in the 3rd quarter valued at approximately $30,000. Criterion Capital Advisors LLC bought a new stake in Carrier Global in the 4th quarter valued at approximately $32,000. Finally, Planned Solutions Inc. bought a new stake in Carrier Global in the 4th quarter valued at approximately $33,000. Institutional investors own 91.00% of the company’s stock.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of several research reports. Wells Fargo & Company cut their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 price target on shares of Carrier Global in a research report on Thursday, April 18th. Citigroup boosted their price target on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada decreased their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Barclays boosted their target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.15.

Carrier Global Price Performance

Shares of CARR stock opened at $54.77 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The company has a market cap of $49.30 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.26 and a beta of 1.39. The business has a fifty day simple moving average of $56.34 and a 200 day simple moving average of $54.76.

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

Carrier Global Dividend Announcement

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

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.