Wells Fargo & Company MN Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Wells Fargo & Company MN trimmed its holdings in Carrier Global Co. (NYSE:CARR) by 10.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,208,001 shares of the company’s stock after selling 142,577 shares during the period. Wells Fargo & Company MN owned 0.13% of Carrier Global worth $69,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global during the fourth quarter worth about $25,000. EdgeRock Capital LLC acquired a new position in Carrier Global during the fourth quarter worth about $27,000. Larson Financial Group LLC grew its position in Carrier Global by 76.2% during the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after buying an additional 221 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new position in Carrier Global during the third quarter worth about $30,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Citigroup raised their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays raised their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, Oppenheimer raised their target price on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.71.

Carrier Global Stock Up 2.0 %

NYSE CARR traded up $1.30 during trading on Friday, reaching $65.65. The company’s stock had a trading volume of 2,161,625 shares, compared to its average volume of 4,239,807. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $59.15 billion, a PE ratio of 45.91, a PEG ratio of 2.60 and a beta of 1.34. The business has a 50-day moving average price of $59.81 and a 200-day moving average price of $56.78. Carrier Global Co. has a 1-year low of $40.49 and a 1-year high of $66.50.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. On average, research analysts forecast 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 was paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.16%. The ex-dividend date was Thursday, May 2nd. Carrier Global’s payout ratio is currently 53.15%.

Insider Transactions at Carrier Global

In related news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction 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 approximately $135,568.38. The disclosure for this sale can be found here. In the last three months, insiders sold 262,954 shares of company stock valued at $16,650,050. Company insiders own 6.95% of the company’s stock.

Carrier Global 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.