LRI Investments LLC Sells 1,423 Shares of Carrier Global Corporation (NYSE:CARR)

LRI Investments LLC cut its stake in Carrier Global Corporation (NYSE:CARR) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,371 shares of the company’s stock after selling 1,423 shares during the period. LRI Investments LLC’s holdings in Carrier Global were worth $3,637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $588,029,000. Brown Advisory Inc. increased its position in shares of Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after acquiring an additional 4,377,402 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $166,061,000. Invesco Ltd. increased its position in shares of Carrier Global by 40.3% during the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company’s stock valued at $345,201,000 after acquiring an additional 1,453,247 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock valued at $603,922,000 after acquiring an additional 1,266,137 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Citigroup cut their target price on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, May 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company lifted their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.82.

Insider Buying and Selling

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the sale, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is currently owned by insiders.

Carrier Global Trading Down 0.1%

Shares of Carrier Global stock opened at $76.71 on Friday. The company has a market capitalization of $65.76 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. The company has a fifty day moving average of $72.55 and a 200 day moving average of $67.61. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. Carrier Global’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global’s payout ratio is currently 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.