Cacti Asset Management LLC Decreases Stake in Carrier Global Co. (NYSE:CARR)

Cacti Asset Management LLC lessened its stake in shares of Carrier Global Co. (NYSE:CARRFree Report) by 1.1% during the 1st quarter, Holdings Channel reports. The fund owned 46,092 shares of the company’s stock after selling 500 shares during the quarter. Cacti Asset Management LLC’s holdings in Carrier Global were worth $2,659,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in shares of Carrier Global during the 4th quarter worth $25,000. EdgeRock Capital LLC purchased a new stake in Carrier Global in the 4th quarter valued at about $27,000. VisionPoint Advisory Group LLC purchased a new stake in Carrier Global in the 3rd quarter valued at about $30,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Carrier Global in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In related news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders sold 262,954 shares of company stock valued at $16,650,050 over the last three months. 6.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CARR. Wells Fargo & Company boosted their price objective 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. Oppenheimer boosted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays boosted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen boosted their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Robert W. Baird lifted their target price on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.86.

Check Out Our Latest Report on CARR

Carrier Global Stock Up 1.0 %

Shares of Carrier Global stock traded up $0.68 on Tuesday, reaching $65.80. 1,078,051 shares of the company were exchanged, compared to its average volume of 4,492,286. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $66.50. The company has a market cap of $59.29 billion, a P/E ratio of 45.54, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The stock’s 50 day moving average price is $61.65 and its 200-day moving average price is $58.11.

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

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Carrier Global Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Co. (NYSE:CARRFree Report).

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

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