PGGM Investments Sells 9,885 Shares of Carrier Global Co. (NYSE:CARR)

PGGM Investments cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,160 shares of the company’s stock after selling 9,885 shares during the period. PGGM Investments’ holdings in Carrier Global were worth $6,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Avior Wealth Management LLC lifted its stake in Carrier Global by 41.2% during the third quarter. Avior Wealth Management LLC now owns 983 shares of the company’s stock worth $54,000 after purchasing an additional 287 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Carrier Global by 1.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 430,095 shares of the company’s stock valued at $23,741,000 after acquiring an additional 7,984 shares during the last quarter. Simplicity Solutions LLC lifted its stake in shares of Carrier Global by 5.6% in the 3rd quarter. Simplicity Solutions LLC now owns 29,604 shares of the company’s stock valued at $1,634,000 after acquiring an additional 1,565 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Carrier Global by 4.2% in the 3rd quarter. Ballentine Partners LLC now owns 7,318 shares of the company’s stock valued at $404,000 after acquiring an additional 298 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Carrier Global by 5.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the company’s stock valued at $584,000 after acquiring an additional 584 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CARR has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company increased their price objective on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday. Oppenheimer increased their price objective on Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Friday. Barclays raised their target price on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup raised their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.00.

Carrier Global Trading Up 1.2 %

Shares of CARR traded up $0.69 during trading hours on Friday, hitting $60.50. The company had a trading volume of 6,684,176 shares, compared to its average volume of 4,318,700. The firm has a market cap of $54.46 billion, a P/E ratio of 42.31, a P/E/G ratio of 2.53 and a beta of 1.39. The stock’s 50 day moving average price is $56.54 and its 200 day moving average price is $54.83. 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 Co. has a 52-week low of $40.28 and a 52-week high of $60.87.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. The business 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%. On average, research analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared 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 1.26%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Insider Activity at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of the 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 sale, the vice president now directly 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 accessible through the SEC website. In other 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 transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. 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.