Donaldson Capital Management LLC Lowers Position in Carrier Global Co. (NYSE:CARR)

Donaldson Capital Management LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 9.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,948 shares of the company’s stock after selling 736 shares during the quarter. Donaldson Capital Management LLC’s holdings in Carrier Global were worth $404,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. McClarren Financial Advisors Inc. grew its position in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Carrier Global during the 4th quarter valued at $25,000. EdgeRock Capital LLC purchased a new stake in Carrier Global during the 4th quarter worth $27,000. Larson Financial Group LLC lifted its holdings in Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after buying an additional 221 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Carrier Global in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of a number of recent analyst reports. Citigroup upped their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Barclays increased their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer raised their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada cut their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company lifted their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.00.

Insider Transactions at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by insiders.

Carrier Global Price Performance

CARR stock traded up $0.69 during trading on Friday, hitting $60.50. The company had a trading volume of 6,684,176 shares, compared to its average volume of 4,318,700. The firm has a market capitalization of $54.46 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 2.50 and a beta of 1.39. The company has a current ratio of 1.36, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average of $56.54 and a 200 day moving average of $54.83. Carrier Global Co. has a fifty-two week low of $40.28 and a fifty-two week high of $60.87.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The company had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. As a group, research analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. Carrier Global’s payout ratio is currently 53.15%.

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.