IMA Wealth Inc. Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

IMA Wealth Inc. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,462 shares of the company’s stock after selling 5,073 shares during the quarter. IMA Wealth Inc.’s holdings in Carrier Global were worth $1,922,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp raised its position in shares of 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 during the last quarter. FMR LLC raised its position 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 purchasing an additional 1,033,484 shares during the last quarter. C WorldWide Group Holding A S purchased a new position in shares of Carrier Global in the 3rd quarter valued at approximately $260,761,000. JPMorgan Chase & Co. raised its position in shares of Carrier Global by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock valued at $258,438,000 after purchasing an additional 521,189 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Carrier Global by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,576,177 shares of the company’s stock valued at $252,605,000 after purchasing an additional 26,425 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR traded up $0.69 during midday trading on Friday, reaching $60.50. 6,684,176 shares of the stock were exchanged, compared to its average volume of 4,318,700. The firm has a 50-day simple moving average of $56.54 and a two-hundred day simple moving average of $54.83. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The firm has a market cap of $54.46 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 2.50 and a beta of 1.39. The company has a quick ratio of 2.40, a current ratio of 1.36 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. As a group, analysts anticipate that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.26%. Carrier Global’s dividend payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised 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. Citigroup raised their price target 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. Royal Bank of Canada reduced their price target 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. Oppenheimer raised their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Barclays raised their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus target price of $62.00.

Insider Activity at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global 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 sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’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 owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is owned by corporate 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.