Heritage Investors Management Corp Sells 220 Shares of Carrier Global Co. (NYSE:CARR)

Heritage Investors Management Corp reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 49,822 shares of the company’s stock after selling 220 shares during the period. Heritage Investors Management Corp’s holdings in Carrier Global were worth $2,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Modera Wealth Management LLC boosted its holdings in shares of Carrier Global by 19.4% in the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after purchasing an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in Carrier Global by 9.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after acquiring an additional 476 shares during the last quarter. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Carrier Global during the fourth quarter worth approximately $2,081,000. abrdn plc lifted its holdings in shares of Carrier Global by 40.6% in the 4th quarter. abrdn plc now owns 751,661 shares of the company’s stock worth $43,183,000 after acquiring an additional 217,144 shares during the last quarter. Finally, AIA Group Ltd boosted its stake in shares of Carrier Global by 16.5% in the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after purchasing an additional 14,003 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Up 1.4 %

Carrier Global stock traded up $0.92 on Thursday, hitting $65.23. 2,662,797 shares of the stock traded hands, compared to its average volume of 4,811,897. Carrier Global Co. has a 1 year low of $40.49 and a 1 year high of $65.34. The firm has a market cap of $58.77 billion, a P/E ratio of 45.62, a price-to-earnings-growth ratio of 2.61 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. The business’s fifty day simple moving average is $57.90 and its 200 day simple moving average is $55.42.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CARR shares. Robert W. Baird boosted their price target on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Citigroup increased their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Oppenheimer increased their price objective on Carrier Global from $63.00 to $64.00 and gave the company an “outperform” 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 company an “equal weight” rating in a report on Friday, April 26th. Finally, TD Cowen raised their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.71.

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.