Sumitomo Mitsui Trust Holdings Inc. Sells 65,048 Shares of Carrier Global Co. (NYSE:CARR)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in Carrier Global Co. (NYSE:CARRFree Report) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,227,539 shares of the company’s stock after selling 65,048 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Carrier Global worth $122,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Knuff & Co LLC acquired a new stake in shares of Carrier Global in the second quarter valued at $25,000. Avalon Trust Co bought a new position in Carrier Global in the 2nd quarter valued at $27,000. Covestor Ltd increased its stake in shares of Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 303 shares during the period. Nemes Rush Group LLC bought a new stake in shares of Carrier Global during the second quarter worth $29,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Carrier Global during the third quarter valued at $32,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 16,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.99, for a total transaction of $956,835.00. Following the sale, the vice president now owns 89,920 shares in the company, valued at approximately $5,214,460.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Carrier Global Trading Down 1.3 %

NYSE CARR opened at $56.14 on Friday. The stock has a market capitalization of $47.10 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 1.91 and a beta of 1.42. Carrier Global Co. has a 52 week low of $40.28 and a 52 week high of $60.04. The stock’s 50 day moving average price is $54.55 and its two-hundred day moving average price is $54.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.25 and a current ratio of 1.66.

Carrier Global (NYSE:CARRGet Free Report) last announced its earnings results on Thursday, October 26th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.78 by $0.11. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Carrier Global had a net margin of 5.43% and a return on equity of 26.60%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. As a group, analysts anticipate that Carrier Global Co. will post 2.72 earnings per share for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Thursday, December 21st will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 20th. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 1.35%. Carrier Global’s dividend payout ratio is 53.90%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 price target on shares of Carrier Global in a research note on Monday, December 4th. Bank of America lowered Carrier Global from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $62.00 to $55.00 in a research report on Thursday, October 5th. Wolfe Research lowered Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 target price on the stock. in a research note on Thursday, October 12th. Morgan Stanley raised their target price on Carrier Global from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Friday, September 22nd. Finally, Wells Fargo & Company upped their price target on Carrier Global from $50.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Hold” and a consensus target price of $58.40.

View Our Latest Stock Report on Carrier Global

Carrier Global Profile

(Free Report)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

Further Reading

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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