South Dakota Investment Council Sells 3,625 Shares of Carrier Global Co. (NYSE:CARR)

South Dakota Investment Council lowered its position in Carrier Global Co. (NYSE:CARR) by 9.4% in the 4th quarter, Holdings Channel reports. The firm owned 35,141 shares of the company’s stock after selling 3,625 shares during the quarter. South Dakota Investment Council’s holdings in Carrier Global were worth $2,019,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in Carrier Global by 3.4% in the third quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock worth $493,560,000 after purchasing an additional 289,973 shares during the last quarter. FMR LLC lifted its stake in Carrier Global by 18.3% in the third quarter. FMR LLC now owns 6,666,775 shares of the company’s stock worth $368,006,000 after purchasing an additional 1,033,484 shares during the last quarter. C WorldWide Group Holding A S bought a new stake in Carrier Global in the third quarter worth about $260,761,000. JPMorgan Chase & Co. lifted its stake in Carrier Global by 12.5% in the third quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock worth $258,438,000 after purchasing an additional 521,189 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Carrier Global by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,576,177 shares of the company’s stock worth $252,605,000 after acquiring an additional 26,425 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 target price on shares of Carrier Global in a research report on Thursday, April 18th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Barclays raised their target price on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup raised their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company reduced their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.15.

Insider Transactions at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $54.77 on Thursday. The company has a market cap of $49.30 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 2.33 and a beta of 1.39. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The company has a 50 day moving average of $56.34 and a two-hundred day moving average of $54.76.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the firm earned $0.40 earnings per share. Carrier Global’s revenue was down .1% compared to the same quarter last year. As a group, analysts predict that Carrier Global Co. will post 2.82 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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

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.