Truist Financial Corp Sells 7,027 Shares of Carrier Global Co. (NYSE:CARR)

Truist Financial Corp cut its holdings in Carrier Global Co. (NYSE:CARR) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,654 shares of the company’s stock after selling 7,027 shares during the period. Truist Financial Corp’s holdings in Carrier Global were worth $8,441,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in Carrier Global in the 3rd quarter valued at about $28,000. Coastline Trust Co bought a new position in shares of Carrier Global during the 3rd quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new position in shares of Carrier Global during the 3rd quarter worth approximately $44,000. Ashton Thomas Securities LLC bought a new position in shares of Carrier Global during the 3rd quarter worth approximately $50,000. Finally, GHP Investment Advisors Inc. increased its stake in Carrier Global by 67.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 687 shares of the company’s stock valued at $55,000 after purchasing an additional 276 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 1.5 %

NYSE CARR opened at $66.10 on Friday. The firm has a 50 day simple moving average of $67.46 and a 200-day simple moving average of $72.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a one year low of $53.33 and a one year high of $83.32. The firm has a market cap of $57.39 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.97 and a beta of 1.35.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the company earned $0.53 earnings per share. Equities research analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, December 20th were paid a $0.225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.36%. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s payout ratio is currently 14.33%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CARR. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Barclays decreased their price target on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Finally, Robert W. Baird cut their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

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.