Kentucky Retirement Systems Insurance Trust Fund Sells 2,321 Shares of Carrier Global Co. (NYSE:CARR)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Carrier Global Co. (NYSE:CARR) by 7.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 27,571 shares of the company’s stock after selling 2,321 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Carrier Global were worth $1,603,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after acquiring an additional 43,002 shares during the last quarter. Pinnacle Financial Partners Inc boosted its holdings in shares of Carrier Global by 9.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after purchasing an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. bought a new position in shares of Carrier Global during the 4th quarter valued at approximately $2,081,000. Nomura Holdings Inc. purchased a new stake in Carrier Global during the 4th quarter valued at $973,000. Finally, AIA Group Ltd lifted its position in Carrier Global by 16.5% in the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after buying an additional 14,003 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Up 3.0 %

Shares of Carrier Global stock traded up $1.94 during trading on Friday, hitting $66.77. 4,351,536 shares of the stock traded hands, compared to its average volume of 4,160,366. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $64.53 and its 200 day simple moving average is $59.92. The firm has a market cap of $60.16 billion, a P/E ratio of 46.69, a price-to-earnings-growth ratio of 2.60 and a beta of 1.32. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal 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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is currently 53.15%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CARR. Oppenheimer cut their price objective on shares of Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $72.00 target price on shares of Carrier Global in a research report on Friday. Barclays increased 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, Wells Fargo & Company boosted their price objective on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.64.

Insider Buying and Selling

In related news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $5,560,831.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction dated 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 owns 85,028 shares in the company, valued at approximately $5,560,831.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. Insiders sold a total of 262,954 shares of company stock worth $16,650,050 in the last 90 days. 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.