Lee Danner & Bass Inc. Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Lee Danner & Bass Inc. cut its position in shares of Carrier Global Co. (NYSE:CARR) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,614 shares of the company’s stock after selling 7,627 shares during the period. Lee Danner & Bass Inc.’s holdings in Carrier Global were worth $2,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CARR. C WorldWide Group Holding A S bought a new position in shares of Carrier Global during the third quarter valued at approximately $260,761,000. Impax Asset Management Group plc boosted its position in Carrier Global by 6,362.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,236,841 shares of the company’s stock valued at $123,474,000 after acquiring an additional 2,202,226 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Carrier Global by 103.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,600,774 shares of the company’s stock valued at $143,563,000 after acquiring an additional 1,320,621 shares in the last quarter. FMR LLC increased its holdings in shares of Carrier Global by 18.3% in the 3rd quarter. FMR LLC now owns 6,666,775 shares of the company’s stock valued at $368,006,000 after acquiring an additional 1,033,484 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Carrier Global in the 3rd quarter worth $48,735,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was 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 owns 422,808 shares in the company, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 value of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the firm’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 sale, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Carrier Global Trading Up 0.2 %

Shares of NYSE:CARR opened at $53.62 on Tuesday. The business has a 50-day moving average price of $56.32 and a 200-day moving average price of $54.75. The stock has a market cap of $48.26 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.26 and a beta of 1.39. Carrier Global Co. has a 52-week low of $40.28 and a 52-week 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.

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

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is 48.10%.

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.