Intech Investment Management LLC Has $7.34 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Intech Investment Management LLC boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 19.1% during the first quarter, Holdings Channel reports. The fund owned 126,248 shares of the company’s stock after acquiring an additional 20,204 shares during the period. Intech Investment Management LLC’s holdings in Carrier Global were worth $7,339,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Manchester Capital Management LLC raised its stake in shares of Carrier Global by 4.3% during the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after buying an additional 180 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after buying an additional 182 shares during the period. Graypoint LLC raised its position in shares of Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after acquiring an additional 184 shares during the period. Sovereign Financial Group Inc. grew its holdings in Carrier Global by 4.7% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock valued at $243,000 after purchasing an additional 188 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in Carrier Global by 2.3% in the first quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after purchasing an additional 197 shares during the period. 91.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,954 shares of company stock worth $16,650,050. Company insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CARR. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays lifted their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Oppenheimer upped their price objective on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Finally, TD Cowen upped their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.93.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $0.81 during trading on Friday, hitting $66.24. 2,822,408 shares of the company were exchanged, compared to its average volume of 4,008,864. The company has a market capitalization of $59.68 billion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 2.58 and a beta of 1.32. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $70.09. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average is $64.35 and its 200-day moving average is $59.53.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.27 billion. Equities analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend 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.