Northwest Investment Counselors LLC Cuts Stock Position in Carrier Global Co. (NYSE:CARR)

Northwest Investment Counselors LLC cut its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,666 shares of the company’s stock after selling 807 shares during the quarter. Carrier Global accounts for approximately 1.5% of Northwest Investment Counselors LLC’s holdings, making the stock its 13th biggest position. Northwest Investment Counselors LLC’s holdings in Carrier Global were worth $6,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Nordea Investment Management AB raised its stake in shares of Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in Carrier Global by 54,708.0% in the second quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after acquiring an additional 13,677 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Carrier Global by 50.1% during 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 acquired a new position in shares of Carrier Global during the 1st quarter worth $2,019,000. Finally, Kintegral Advisory LLC increased its holdings 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 valued at $1,797,000 after purchasing an additional 8,705 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by insiders.

Carrier Global Trading Down 0.2 %

CARR traded down $0.13 during trading on Monday, hitting $81.42. The company’s stock had a trading volume of 1,008,408 shares, compared to its average volume of 4,115,267. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $83.32. The firm’s 50 day moving average price is $75.32 and its 200-day moving average price is $67.30. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market cap of $73.36 billion, a PE ratio of 56.93, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Analysts Set New Price Targets

Several research analysts have weighed in on CARR shares. Mizuho upped their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Oppenheimer upped their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

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.