Telos Capital Management Inc. Sells 4,365 Shares of Carrier Global Co. (NYSE:CARR)

Telos Capital Management Inc. lowered its position in Carrier Global Co. (NYSE:CARR) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 110,053 shares of the company’s stock after selling 4,365 shares during the quarter. Telos Capital Management Inc.’s holdings in Carrier Global were worth $8,858,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CARR. Little House Capital LLC lifted its holdings in Carrier Global by 22.8% during the 3rd quarter. Little House Capital LLC now owns 11,488 shares of the company’s stock worth $925,000 after buying an additional 2,130 shares during the period. Bellecapital International Ltd. bought a new position in shares of Carrier Global during the third quarter worth about $222,000. Baker Boyer National Bank acquired a new position in shares of Carrier Global in the third quarter worth approximately $246,000. McClarren Financial Advisors Inc. boosted its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the last quarter. Finally, Rede Wealth LLC acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $209,000. Institutional investors own 91.00% of the company’s stock.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

CARR has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Barclays boosted their target price on shares of Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley began coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Stephens downgraded Carrier Global from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $75.00 to $85.00 in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Seven equities research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Carrier Global Price Performance

Shares of CARR opened at $81.38 on Tuesday. The stock has a market cap of $73.32 billion, a P/E ratio of 56.91, a P/E/G ratio of 2.94 and a beta of 1.32. The business’s fifty day moving average is $75.66 and its 200 day moving average is $67.48. 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 12-month low of $45.68 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. Sell-side analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.93%. Carrier Global’s dividend 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.