Azimuth Capital Investment Management LLC Trims Stock Position in Carrier Global Corporation (NYSE:CARR)

Azimuth Capital Investment Management LLC reduced its stake in shares of Carrier Global Corporation (NYSE:CARR) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,306 shares of the company’s stock after selling 728 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Carrier Global were worth $400,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in Carrier Global during the 4th quarter valued at $28,000. Mattson Financial Services LLC purchased a new position in Carrier Global during the 4th quarter valued at $31,000. Investment Research & Advisory Group Inc. purchased a new position in Carrier Global during the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. purchased a new position in Carrier Global during the 4th quarter valued at $35,000. Finally, Transce3nd LLC purchased a new position in Carrier Global during the 4th quarter valued at $37,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of CARR stock opened at $65.44 on Friday. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The company’s 50-day moving average is $72.32 and its 200 day moving average is $68.11. The company has a market capitalization of $55.69 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, July 21st were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Carrier Global’s dividend payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CARR shares. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. Melius initiated coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price on the stock. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Friday, May 9th. Mizuho set a $72.00 target price on shares of Carrier Global in a research report on Tuesday, April 22nd. Finally, Citigroup reaffirmed a “buy” rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.47.

Insider Buying and Selling

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the sale, the director directly owned 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.20% of the company’s stock.

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.