AMF Tjanstepension AB Cuts Stake in Carrier Global Co. (NYSE:CARR)

AMF Tjanstepension AB lowered its position in shares of Carrier Global Co. (NYSE:CARR) by 7.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 211,753 shares of the company’s stock after selling 16,923 shares during the period. AMF Tjanstepension AB’s holdings in Carrier Global were worth $13,370,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. boosted its position in Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global during the fourth quarter valued at about $25,000. Olistico Wealth LLC bought a new stake in Carrier Global during the second quarter valued at about $25,000. EdgeRock Capital LLC bought a new stake in Carrier Global during the fourth quarter valued at about $27,000. Finally, Criterion Capital Advisors LLC bought a new stake in Carrier Global during the fourth quarter valued at about $32,000. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CARR. Wells Fargo & Company raised their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Barclays raised their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Finally, Oppenheimer lowered their price target on Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.77.

Insider Activity at Carrier Global

In related news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Carrier Global Stock Performance

Shares of Carrier Global stock traded down $1.03 on Wednesday, reaching $63.11. 3,026,270 shares of the stock were exchanged, compared to its average volume of 4,422,978. 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 twelve month low of $45.68 and a twelve month high of $70.09. The firm has a market capitalization of $56.97 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 2.63 and a beta of 1.32. The business has a 50 day moving average price of $64.59 and a two-hundred day moving average price of $60.43.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $0.79 earnings per share. Analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend 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.