Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Holdings in Carrier Global Corporation (NYSE:CARR)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Carrier Global Corporation (NYSE:CARR) by 17.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 110,789 shares of the company’s stock after selling 23,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Carrier Global were worth $7,024,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Carrier Global by 17.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after purchasing an additional 4,668,929 shares during the period. Nuveen LLC purchased a new position in Carrier Global in the 1st quarter worth approximately $649,512,000. Brown Advisory Inc. increased its stake in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after purchasing an additional 4,377,402 shares during the period. Northern Trust Corp increased its stake in Carrier Global by 16.7% in the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock worth $603,922,000 after purchasing an additional 1,266,137 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Carrier Global by 15.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company’s stock worth $473,046,000 after purchasing an additional 936,892 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.5%

NYSE CARR opened at $65.44 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. The firm has a market capitalization of $55.69 billion, a PE ratio of 14.26, a P/E/G ratio of 1.81 and a beta of 1.25. The stock’s 50 day moving average is $72.32 and its 200 day moving average is $68.11.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, July 21st were issued a $0.225 dividend. 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 payout ratio is 19.61%.

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 stock was sold at an average price of $70.30, for a total value 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. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank Of Canada decreased their price target on Carrier Global from $89.00 to $87.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 price target on shares of Carrier Global in a research note on Tuesday, July 15th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. Melius began coverage on Carrier Global in a research note on Tuesday, July 1st. They set a “hold” rating and a $90.00 target price on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $84.47.

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.