Ontario Teachers Pension Plan Board Decreases Position in Carrier Global Co. (NYSE:CARR)

Ontario Teachers Pension Plan Board lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 81.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,986 shares of the company’s stock after selling 33,990 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Carrier Global were worth $464,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased 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 purchasing an additional 43,002 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in Carrier Global by 9.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after buying an additional 476 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new position in Carrier Global in the 4th quarter valued at approximately $2,081,000. Nomura Holdings Inc. purchased a new position in Carrier Global in the 4th quarter valued at approximately $973,000. Finally, AIA Group Ltd grew its stake in Carrier Global by 16.5% in the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after buying an additional 14,003 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Buying and Selling

In related news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were 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 in the company, valued at $135,568.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction dated 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 have sold a total of 262,954 shares of company stock worth $16,650,050 in the last 90 days. 6.95% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CARR. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Oppenheimer lifted their price objective on shares of Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Robert W. Baird upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $64.00 to $75.00 in a research note on Monday, July 15th. Barclays raised their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Finally, TD Cowen raised their price target 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. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and an average price target of $64.93.

Carrier Global Price Performance

Shares of NYSE CARR traded up $1.76 during mid-day trading on Monday, reaching $68.00. 2,998,947 shares of the company were exchanged, compared to its average volume of 4,448,645. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $70.09. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $61.27 billion, a PE ratio of 47.55, a PEG ratio of 2.58 and a beta of 1.32. The company’s 50 day moving average price is $64.35 and its 200 day moving average price is $59.57.

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

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is presently 53.15%.

About Carrier Global

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.