First National Trust Co Decreases Position in Carrier Global Co. (NYSE:CARR)

First National Trust Co lowered its position in Carrier Global Co. (NYSE:CARR) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,454 shares of the company’s stock after selling 415 shares during the quarter. First National Trust Co’s holdings in Carrier Global were worth $371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its holdings in shares of Carrier Global by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 13,293,503 shares of the company’s stock worth $763,712,000 after acquiring an additional 296,725 shares during the last quarter. Northern Trust Corp lifted its holdings in Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after purchasing an additional 289,973 shares in the last quarter. FMR LLC lifted its holdings in 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 purchasing an additional 1,033,484 shares in the last quarter. C WorldWide Group Holding A S acquired a new stake in shares of Carrier Global during the 3rd quarter worth about $260,761,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Carrier Global by 12.5% during the third quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock worth $258,438,000 after buying an additional 521,189 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Transactions at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s 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 sale, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction dated 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 owns 66,083 shares in the company, valued at approximately $3,553,282.91. 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 three months. Company insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CARR. Barclays upped their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wells Fargo & Company upped their price target 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. TD Cowen lifted their price target on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup increased their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Robert W. Baird lifted their price target on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday. Three investment 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, Carrier Global has a consensus rating of “Hold” and a consensus price target of $62.71.

Carrier Global Stock Performance

CARR stock opened at $63.01 on Monday. The company has a 50-day simple moving average of $57.32 and a 200 day simple moving average of $55.14. The company has a market capitalization of $56.77 billion, a P/E ratio of 43.42, a PEG ratio of 2.61 and a beta of 1.34. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a fifty-two week low of $40.49 and a fifty-two week high of $63.79.

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

Carrier Global Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

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.