Carrier Global Co. (NYSE:CARR) Shares Sold by Swedbank AB

Swedbank AB lowered its position in shares of Carrier Global Co. (NYSE:CARR) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 409,098 shares of the company’s stock after selling 800 shares during the period. Swedbank AB’s holdings in Carrier Global were worth $32,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CARR. JPMorgan Chase & Co. grew its position in Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. Capital International Investors grew its position in Carrier Global by 4.6% in the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after acquiring an additional 3,763,666 shares during the period. PineStone Asset Management Inc. grew its position in Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the period. Point72 Asset Management L.P. purchased a new position in Carrier Global in the second quarter worth approximately $58,415,000. Finally, Vanguard Group Inc. grew its position in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after acquiring an additional 466,829 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR opened at $81.05 on Thursday. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $83.32. The stock’s 50 day moving average is $74.63 and its two-hundred day moving average is $66.88. The firm has a market capitalization of $73.03 billion, a PE ratio of 56.68, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the firm earned $0.79 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.94%. Carrier Global’s payout ratio is 53.15%.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CARR. Bank of America increased their price objective on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Stephens cut Carrier Global from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $75.00 to $85.00 in a research note on Wednesday. Finally, Robert W. Baird decreased their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

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.