SVB Wealth LLC Has $949,000 Stake in Carrier Global Co. (NYSE:CARR)

SVB Wealth LLC trimmed its holdings in shares of Carrier Global Co. (NYSE:CARR) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,516 shares of the company’s stock after selling 859 shares during the period. SVB Wealth LLC’s holdings in Carrier Global were worth $949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd boosted its position in Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 303 shares during the last quarter. OFI Invest Asset Management bought a new position in Carrier Global in the 3rd quarter valued at $28,000. Larson Financial Group LLC boosted its position in Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after buying an additional 221 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in Carrier Global in the 3rd quarter valued at $30,000. Finally, GHP Investment Advisors Inc. boosted its position in Carrier Global by 205.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 595 shares of the company’s stock valued at $31,000 after buying an additional 400 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

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 dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated 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 $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of 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. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $53.55 on Friday. The business’s 50-day moving average price is $56.36 and its two-hundred day moving average price is $54.74. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The firm has a market cap of $48.20 billion, a PE ratio of 33.89, a P/E/G ratio of 2.29 and a beta of 1.39. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87.

Carrier Global (NYSE:CARR) last released 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. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is 48.10%.

Analysts Set New Price Targets

CARR has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a research report on Thursday. Wells Fargo & Company reduced their price target on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Citigroup raised their price target on 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 price target on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada reduced their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. 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 stock. Based on data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average target price of $61.15.

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.