Bath Savings Trust Co Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

Bath Savings Trust Co trimmed its position in Carrier Global Co. (NYSE:CARR) by 13.2% during the first quarter, Holdings Channel.com reports. The firm owned 3,950 shares of the company’s stock after selling 600 shares during the period. Bath Savings Trust Co’s holdings in Carrier Global were worth $250,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CARR. Brighton Jones LLC raised its position in shares of Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after buying an additional 1,850 shares during the last quarter. Blue Trust Inc. raised its position in shares of Carrier Global by 47.3% in the fourth quarter. Blue Trust Inc. now owns 8,774 shares of the company’s stock valued at $599,000 after buying an additional 2,816 shares during the last quarter. Foundations Investment Advisors LLC raised its position in shares of Carrier Global by 3.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,988 shares of the company’s stock valued at $409,000 after buying an additional 209 shares during the last quarter. Hanson & Doremus Investment Management raised its position in shares of Carrier Global by 6.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 2,572 shares of the company’s stock valued at $176,000 after buying an additional 150 shares during the last quarter. Finally, Busey Bank raised its position in shares of Carrier Global by 12.5% in the fourth quarter. Busey Bank now owns 12,532 shares of the company’s stock valued at $855,000 after buying an additional 1,394 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CARR shares. The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price target on shares of Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Monday, February 24th. Royal Bank of Canada increased their price target on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. Finally, Mizuho set a $72.00 price target on shares of Carrier Global in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Carrier Global Price Performance

Carrier Global stock opened at $71.12 on Friday. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The firm has a fifty day moving average of $65.63 and a 200-day moving average of $67.83. The firm has a market capitalization of $60.97 billion, a P/E ratio of 11.32, a PEG ratio of 2.01 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Friday, May 2nd. Carrier Global’s payout ratio is 13.93%.

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.