Mandatum Life Insurance Co Ltd Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Mandatum Life Insurance Co Ltd lowered its position in shares of Carrier Global Co. (NYSE:CARR) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,975 shares of the company’s stock after selling 1,450 shares during the period. Carrier Global accounts for about 0.9% of Mandatum Life Insurance Co Ltd’s holdings, making the stock its 25th biggest position. Mandatum Life Insurance Co Ltd’s holdings in Carrier Global were worth $2,648,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Telos Capital Management Inc. lifted its position in Carrier Global by 3.0% during the second quarter. Telos Capital Management Inc. now owns 114,418 shares of the company’s stock valued at $7,217,000 after purchasing an additional 3,300 shares during the last quarter. Valmark Advisers Inc. bought a new stake in Carrier Global during the second quarter valued at approximately $242,000. Massachusetts Wealth Management lifted its position in Carrier Global by 42.4% during the second quarter. Massachusetts Wealth Management now owns 16,375 shares of the company’s stock valued at $1,033,000 after purchasing an additional 4,875 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $206,000. Finally, Interchange Capital Partners LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth approximately $330,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CARR shares. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $72.00 in a report on Monday, July 29th. Oppenheimer boosted their price objective on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and issued a $72.00 price objective on shares of Carrier Global in a report on Friday, July 26th. Finally, Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.08.

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Stock Up 2.4 %

Carrier Global stock traded up $1.69 during mid-day trading on Friday, reaching $72.78. The stock had a trading volume of 3,251,053 shares, compared to its average volume of 2,992,739. The company has a 50-day moving average price of $66.33 and a two-hundred day moving average price of $62.00. Carrier Global Co. has a one year low of $45.68 and a one year high of $73.04. 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 company has a market capitalization of $65.70 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.90 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data 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 net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter in the prior year, the business earned $0.79 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is currently 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.