Comerica Bank Trims Position in Carrier Global Co. (NYSE:CARR)

Comerica Bank cut its stake in Carrier Global Co. (NYSE:CARR) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,870 shares of the company’s stock after selling 7,242 shares during the period. Comerica Bank’s holdings in Carrier Global were worth $21,094,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in shares of Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock valued at $47,633,000 after acquiring an additional 43,002 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in shares of Carrier Global by 9.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after acquiring an additional 476 shares during the last quarter. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Carrier Global during the fourth quarter worth approximately $2,081,000. Nomura Holdings Inc. purchased a new position in shares of Carrier Global during the fourth quarter worth approximately $973,000. Finally, AIA Group Ltd lifted its holdings in shares of Carrier Global by 16.5% during the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after purchasing an additional 14,003 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $72.00 target price on shares of Carrier Global in a report on Friday, July 26th. Bank of America upgraded Carrier Global from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $72.00 in a research report on Monday. Robert W. Baird lowered their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company boosted their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $66.86.

Insider Activity

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the firm’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 transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction 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 sale, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Carrier Global Trading Down 3.5 %

Shares of CARR stock traded down $2.36 during mid-day trading on Thursday, hitting $65.75. The company’s stock had a trading volume of 1,396,379 shares, compared to its average volume of 4,425,865. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company’s fifty day simple moving average is $64.64 and its 200-day simple moving average is $60.15. The company has a market cap of $59.36 billion, a PE ratio of 47.62, a P/E/G ratio of 2.69 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 issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. As a group, equities research analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is 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.