Vontobel Holding Ltd. Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)

Vontobel Holding Ltd. lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 725,855 shares of the company’s stock after selling 6,895 shares during the quarter. Vontobel Holding Ltd. owned about 0.08% of Carrier Global worth $58,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CARR. JPMorgan Chase & Co. boosted its holdings in Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares in the last quarter. Capital International Investors boosted its holdings in Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. boosted its holdings in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after purchasing an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Carrier Global in the 2nd quarter valued at approximately $58,415,000. Finally, Vanguard Group Inc. boosted its holdings in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after purchasing an additional 466,829 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $0.34 during trading on Wednesday, hitting $81.27. 823,603 shares of the company were exchanged, compared to its average volume of 4,135,212. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The stock has a market capitalization of $73.23 billion, a price-to-earnings ratio of 56.94, a P/E/G ratio of 2.94 and a beta of 1.32. The firm has a 50 day moving average price of $74.28 and a 200 day moving average price of $66.78.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm 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 $0.19 dividend. 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 (DPR) is presently 53.15%.

Analysts Set New Price Targets

CARR has been the subject of a number of research reports. Oppenheimer lifted their price target on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Stephens downgraded shares of Carrier Global from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $75.00 to $85.00 in a research report on Wednesday. Bank of America lifted their price target on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target for the company. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction 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 directly 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 legal filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by 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.