Swiss National Bank Sells 65,900 Shares of Carrier Global Co. (NYSE:CARR)

Swiss National Bank reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 2.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,619,285 shares of the company’s stock after selling 65,900 shares during the quarter. Swiss National Bank owned approximately 0.31% of Carrier Global worth $150,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Modera Wealth Management LLC increased its position in Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after purchasing an additional 3,430 shares during the period. Pinnacle Financial Partners Inc grew its position in shares of Carrier Global by 9.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after buying an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Carrier Global in the 4th quarter worth about $2,081,000. abrdn plc grew its position in shares of Carrier Global by 40.6% in the 4th quarter. abrdn plc now owns 751,661 shares of the company’s stock worth $43,183,000 after buying an additional 217,144 shares during the period. Finally, AIA Group Ltd grew its position in shares of Carrier Global by 16.5% in the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after buying an additional 14,003 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $62.09 on Friday. The firm’s 50 day moving average price is $57.32 and its 200-day moving average price is $55.09. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $63.79. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $55.94 billion, a PE ratio of 43.42, a price-to-earnings-growth ratio of 2.56 and a beta of 1.34.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Equities research analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is 53.15%.

Insider Buying and Selling

In related news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 541,005 shares of company stock valued at $30,536,214. 6.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CARR. Wells Fargo & Company upped their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Barclays upped their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. TD Cowen upped their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Oppenheimer upped their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Citigroup upped their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.71.

Carrier Global Company 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.