OLD National Bancorp IN Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)

OLD National Bancorp IN reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,021 shares of the company’s stock after selling 705 shares during the period. OLD National Bancorp IN’s holdings in Carrier Global were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Beese Fulmer Investment Management Inc. boosted its position in shares of Carrier Global by 0.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after buying an additional 181 shares during the period. Graypoint LLC boosted its holdings in Carrier Global by 1.9% in the fourth quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after purchasing an additional 184 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its holdings in Carrier Global by 16.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock valued at $80,000 after purchasing an additional 200 shares during the period. Operose Advisors LLC boosted its holdings in Carrier Global by 44.4% in the third quarter. Operose Advisors LLC now owns 650 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Finally, Boston Financial Mangement LLC boosted its holdings in Carrier Global by 2.2% in the third quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock valued at $519,000 after purchasing an additional 201 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent research reports. Barclays lifted their target price on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company decreased their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Citigroup raised their price target on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada cut their price target on 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, Oppenheimer restated an “outperform” rating and issued a $63.00 price target on shares of Carrier Global in a research note on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.15.

Carrier Global Stock Performance

Shares of CARR stock opened at $54.77 on Thursday. The stock has a market capitalization of $49.30 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $60.87. The stock’s 50-day moving average price is $56.34 and its 200 day moving average price is $54.76. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, equities research analysts forecast that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 48.10%.

Insider Buying and Selling at Carrier Global

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

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.