Sumitomo Mitsui Trust Holdings Inc. Sells 51,469 Shares of Carrier Global Co. (NYSE:CARR)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Carrier Global Co. (NYSE:CARR) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,096,938 shares of the company’s stock after selling 51,469 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Carrier Global worth $121,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CARR. Beese Fulmer Investment Management Inc. grew its stake in shares of Carrier Global by 0.9% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after purchasing an additional 181 shares during the period. Sunbelt Securities Inc. grew its position in Carrier Global by 2.3% during the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after buying an additional 182 shares during the period. Graypoint LLC increased its holdings in Carrier Global by 1.9% in the fourth quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after buying an additional 184 shares in the last quarter. Sovereign Financial Group Inc. raised its position in shares of Carrier Global by 4.7% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after acquiring an additional 188 shares during the period. Finally, McClarren Financial Advisors Inc. boosted its stake 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 in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

CARR stock opened at $63.41 on Thursday. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $66.50. 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 firm has a market capitalization of $57.13 billion, a PE ratio of 44.34, a price-to-earnings-growth ratio of 2.46 and a beta of 1.32. The business has a 50 day simple moving average of $63.67 and a 200-day simple moving average of $58.83.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Equities research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.20%. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD Cowen upped their price target on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Barclays lifted their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Robert W. Baird upped their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $64.14.

Insider Transactions 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. Insiders sold 262,954 shares of company stock worth $16,650,050 in the last 90 days. Insiders own 6.95% of the company’s stock.

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.