Cullen Frost Bankers Inc. Sells 6,850 Shares of Carrier Global Co. (NYSE:CARR)

Cullen Frost Bankers Inc. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 135,118 shares of the company’s stock after selling 6,850 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Carrier Global were worth $7,763,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global in the 4th quarter valued at $25,000. EdgeRock Capital LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $27,000. OFI Invest Asset Management bought a new position in shares of Carrier Global during the 3rd quarter worth about $28,000. Finally, Larson Financial Group LLC boosted its position in shares of Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Transactions at Carrier Global

In related news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Oppenheimer raised their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Royal Bank of Canada cut their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Robert W. Baird upped their price target on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Barclays increased their price objective on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, TD Cowen boosted 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, April 29th. Three equities 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.71.

Carrier Global Stock Up 0.1 %

Shares of NYSE:CARR opened at $64.32 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The firm has a market cap of $57.95 billion, a P/E ratio of 44.98, a P/E/G ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a 12 month low of $40.49 and a 12 month high of $64.69. The company’s 50-day moving average price is $57.71 and its two-hundred day moving average price is $55.36.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS 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 net margin of 5.41% and a return on equity of 26.01%. As a group, research analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.18%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

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.