Balentine LLC Sells 2,300 Shares of Carrier Global Co. (NYSE:CARR)

Balentine LLC reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 32.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,758 shares of the company’s stock after selling 2,300 shares during the quarter. Balentine LLC’s holdings in Carrier Global were worth $273,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Carrier Global in the fourth quarter valued at approximately $444,487,000. Impax Asset Management Group plc raised its holdings in Carrier Global by 6,362.1% in the third quarter. Impax Asset Management Group plc now owns 2,236,841 shares of the company’s stock worth $123,474,000 after purchasing an additional 2,202,226 shares during the period. Envestnet Asset Management Inc. raised its holdings in 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 holdings in 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 purchasing an additional 1,033,484 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Carrier Global in the third quarter worth $48,735,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $65.36 on Thursday. The firm has a 50 day moving average of $59.49 and a 200-day moving average of $56.62. The stock has a market capitalization of $58.89 billion, a PE ratio of 45.71, a PEG ratio of 2.67 and a beta of 1.34. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a 12 month low of $40.49 and a 12 month high of $66.50.

Carrier Global (NYSE:CARR) last announced 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 analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, equities research analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the sale, the vice president now directly owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CARR shares. Robert W. Baird increased their target price on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Barclays increased their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price objective 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. Citigroup increased their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada decreased their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Three 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. According to data from MarketBeat, Carrier Global has an average rating of “Hold” and an average price target 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.