Pegasus Asset Management Inc. Sells 1,102 Shares of Carrier Global Co. (NYSE:CARR)

Pegasus Asset Management Inc. decreased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 79,571 shares of the company’s stock after selling 1,102 shares during the period. Carrier Global comprises 2.4% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Pegasus Asset Management Inc.’s holdings in Carrier Global were worth $6,405,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in shares of Carrier Global during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 675.0% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of Carrier Global during the 2nd quarter valued at $32,000. Register Financial Advisors LLC bought a new position in Carrier Global in the first quarter valued at about $34,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Carrier Global in the second quarter worth approximately $35,000. Institutional investors own 91.00% of the company’s stock.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CARR. Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Royal Bank of Canada lifted their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.67.

Carrier Global Stock Down 0.8 %

Shares of NYSE CARR traded down $0.69 during midday trading on Tuesday, hitting $80.69. 1,228,681 shares of the company’s stock were exchanged, compared to its average volume of 4,107,317. 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 $83.32. The company has a market cap of $72.70 billion, a PE ratio of 56.20, a P/E/G ratio of 2.94 and a beta of 1.32. The firm’s fifty day simple moving average is $75.66 and its 200-day simple moving average is $67.48.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. Research analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.94%. Carrier Global’s dividend payout ratio is presently 53.15%.

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.