Carrier Global Corporation $CARR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Carrier Global Corporation (NYSE:CARR) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,548,516 shares of the company’s stock after selling 68,081 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Carrier Global were worth $84,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CARR. Van Hulzen Asset Management LLC purchased a new position in shares of Carrier Global during the second quarter worth about $1,992,000. Robeco Institutional Asset Management B.V. raised its stake in Carrier Global by 269.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 118,806 shares of the company’s stock valued at $6,646,000 after purchasing an additional 86,665 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in Carrier Global by 7.1% in the second quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock valued at $42,201,000 after purchasing an additional 37,934 shares in the last quarter. Reynders McVeigh Capital Management LLC lifted its position in Carrier Global by 3.0% during the second quarter. Reynders McVeigh Capital Management LLC now owns 918,219 shares of the company’s stock valued at $67,351,000 after purchasing an additional 27,061 shares during the last quarter. Finally, Cohen Klingenstein LLC lifted its position in Carrier Global by 317.2% during the third quarter. Cohen Klingenstein LLC now owns 190,538 shares of the company’s stock valued at $10,453,000 after purchasing an additional 144,870 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $55.30 on Wednesday. The firm has a market cap of $45.25 billion, a P/E ratio of -24.91, a P/E/G ratio of 2.02 and a beta of 1.33. The firm’s fifty day moving average is $56.17 and its 200 day moving average is $61.71. Carrier Global Corporation has a 52 week low of $50.24 and a 52 week high of $76.76. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 1.00.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts predict that Carrier Global Corporation will post 2.86 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Thursday, October 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s payout ratio is -43.24%.

Analysts Set New Price Targets

A number of equities analysts have commented on CARR shares. Citigroup cut their price target on shares of Carrier Global from $80.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, September 30th. Weiss Ratings downgraded shares of Carrier Global from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday. JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Finally, Wolfe Research reissued an “outperform” rating and issued a $80.00 target price on shares of Carrier Global in a research note on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.27.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.