Carrier Global Co. (NYSE:CARR) Stake Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in Carrier Global Co. (NYSE:CARR) by 18.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 977,337 shares of the company’s stock after selling 223,347 shares during the period. Los Angeles Capital Management LLC’s holdings in Carrier Global were worth $56,148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Beese Fulmer Investment Management Inc. grew its position in shares of Carrier Global by 0.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after purchasing an additional 181 shares during the last quarter. Graypoint LLC lifted its stake in Carrier Global by 1.9% during the fourth quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after purchasing an additional 184 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Carrier Global by 16.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock valued at $80,000 after acquiring an additional 200 shares during the last quarter. Operose Advisors LLC raised its stake in shares of Carrier Global by 44.4% in the third quarter. Operose Advisors LLC now owns 650 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. Finally, Boston Financial Mangement LLC raised its stake in shares of Carrier Global by 2.2% in the third quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock valued at $519,000 after acquiring an additional 201 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Up 1.9 %

NYSE CARR traded up $1.15 on Friday, reaching $62.09. The company had a trading volume of 3,570,617 shares, compared to its average volume of 4,870,465. The firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 2.57 and a beta of 1.34. 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 Co. has a 1-year low of $40.28 and a 1-year high of $63.79. The company’s fifty day moving average is $57.17 and its 200-day moving average is $55.02.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, research analysts forecast that Carrier Global Co. will post 2.85 earnings per share 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. Investors of record on Friday, May 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CARR. TD Cowen lifted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday. 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 report on Friday, April 26th. Citigroup boosted their price objective 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. 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 report on Friday, April 26th. Finally, Barclays boosted their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Hold” and an average target price of $62.71.

Insider Buying and Selling

In other Carrier Global 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 sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jurgen Timperman sold 159,915 shares of the company’s 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 SEC, which can be accessed through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the company’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 completion of the sale, 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. In the last ninety days, insiders sold 541,005 shares of company stock valued at $30,536,214. Company insiders own 6.95% of the company’s stock.

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.