Cypress Capital Management LLC WY Sells 1,000 Shares of Carrier Global Co. (NYSE:CARR)

Cypress Capital Management LLC WY cut its holdings in Carrier Global Co. (NYSE:CARR) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,810 shares of the company’s stock after selling 1,000 shares during the period. Cypress Capital Management LLC WY’s holdings in Carrier Global were worth $161,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Modera Wealth Management LLC grew its holdings in Carrier Global by 19.4% during the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after purchasing an additional 3,430 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares during the last quarter. Andrew Hill Investment Advisors Inc. bought a new position in Carrier Global during the 4th quarter valued at about $2,081,000. abrdn plc grew its holdings in Carrier Global by 40.6% during the 4th quarter. abrdn plc now owns 751,661 shares of the company’s stock valued at $43,183,000 after purchasing an additional 217,144 shares during the last quarter. Finally, AIA Group Ltd grew its holdings in Carrier Global by 16.5% during 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 during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday. TD Cowen boosted their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday. Oppenheimer boosted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Citigroup upped their price target on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three equities research 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.62.

Insider Activity

In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was 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 owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR traded up $2.12 during mid-day trading on Monday, reaching $62.62. 6,717,888 shares of the stock were exchanged, compared to its average volume of 4,835,024. The business’s 50 day moving average is $56.54 and its 200-day moving average is $54.82. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $62.71. The company has a market capitalization of $56.42 billion, a P/E ratio of 43.64, a P/E/G ratio of 2.53 and a beta of 1.39. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $6.27 billion. On average, equities research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be given a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Carrier Global 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.