M&T Bank Corp Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

M&T Bank Corp trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,765 shares of the company’s stock after selling 18,384 shares during the period. M&T Bank Corp’s holdings in Carrier Global were worth $17,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. C WorldWide Group Holding A S bought a new position in shares of Carrier Global in the third quarter valued at approximately $260,761,000. Impax Asset Management Group plc grew its position in shares of 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 purchasing an additional 2,202,226 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Carrier Global by 103.2% in the third quarter. Envestnet Asset Management Inc. now owns 2,600,774 shares of the company’s stock worth $143,563,000 after purchasing an additional 1,320,621 shares during the period. FMR LLC raised its position in shares of 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 buying an additional 1,033,484 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Carrier Global during the third quarter valued at $48,735,000. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the topic of several recent analyst reports. Citigroup raised their price target on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays lifted their target price on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. TD Cowen increased their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Robert W. Baird upped their target price on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada reduced their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and a consensus price target of $62.71.

Carrier Global Trading Up 1.9 %

Carrier Global stock traded up $1.15 during trading hours on Friday, reaching $62.09. The company had a trading volume of 3,622,875 shares, compared to its average volume of 4,988,253. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. Carrier Global Co. has a 12-month low of $40.28 and a 12-month high of $63.79. The company has a 50-day moving average price of $57.32 and a 200 day moving average price of $55.09. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 43.42, a P/E/G ratio of 2.61 and a beta of 1.34.

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

Carrier Global Announces Dividend

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

Insider Buying and Selling

In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction dated 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 transaction, 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. Insiders have sold 541,005 shares of company stock valued at $30,536,214 over the last ninety days. 6.95% of the stock is owned by insiders.

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.