Carrier Global Co. (NYSE:CARR) Shares Acquired by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 34.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,202 shares of the company’s stock after buying an additional 1,078 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Carrier Global were worth $265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. Vanguard Group Inc. increased its stake in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares during the period. Capital Research Global Investors increased its position in shares of Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares during the last quarter. Capital International Investors increased its position in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Carrier Global by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after purchasing an additional 310,453 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CARR. Oppenheimer dropped their target price on shares of Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $72.00 in a research report on Monday, July 29th. TD Cowen lifted their target price on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Barclays increased their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.77.

Insider Activity

In related news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the transaction, the vice president now directly owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR traded down $0.41 during trading hours on Monday, reaching $63.58. 5,120,923 shares of the company’s stock traded hands, compared to its average volume of 4,437,284. The firm has a market capitalization of $57.40 billion, a price-to-earnings ratio of 43.00, a P/E/G ratio of 2.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $70.09. The business’s fifty day simple moving average is $64.64 and its two-hundred day simple moving average is $60.31.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. Analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

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

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.