Lake Street Advisors Group LLC Sells 1,349 Shares of Carrier Global Co. (NYSE:CARR)

Lake Street Advisors Group LLC trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,959 shares of the company’s stock after selling 1,349 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Carrier Global were worth $1,606,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of Carrier Global by 54,708.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Carrier Global by 50.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Carrier Global in the 1st quarter worth approximately $2,019,000. Finally, Kintegral Advisory LLC boosted its position in shares of Carrier Global by 44.2% in the 2nd quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after purchasing an additional 8,705 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Stock Performance

Shares of NYSE CARR traded up $0.57 during trading on Friday, hitting $73.28. The company had a trading volume of 1,242,815 shares, compared to its average volume of 4,134,546. The stock has a 50 day simple moving average of $76.33 and a 200 day simple moving average of $67.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $83.32. The firm has a market capitalization of $66.03 billion, a P/E ratio of 51.12, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, October 24th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.61 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. As a group, analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is presently 53.15%.

Carrier Global declared that its Board of Directors has approved a share buyback program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of analyst reports. Oppenheimer boosted their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America increased their price objective on Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company dropped their price objective on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada increased their price objective on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.17.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.95% of the stock is currently owned by company insiders.

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.