Insider Selling: Carrier Global Co. (NYSE:CARR) Insider Sells 159,915 Shares of Stock

Carrier Global Co. (NYSE:CARR) insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Carrier Global Stock Up 0.0 %

CARR opened at $60.94 on Friday. The stock’s 50 day moving average price is $57.17 and its 200 day moving average price is $55.02. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a market cap of $54.91 billion, a P/E ratio of 42.62, a P/E/G ratio of 2.59 and a beta of 1.34. Carrier Global Co. has a 12 month low of $40.28 and a 12 month high of $63.79.

Carrier Global (NYSE:CARR) last issued its quarterly 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 company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. As a group, research analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Institutional Investors Weigh In On Carrier Global

Institutional investors and hedge funds have recently modified their holdings of the stock. McClarren Financial Advisors Inc. raised its holdings in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in shares of Carrier Global in the fourth quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the fourth quarter valued at approximately $27,000. OFI Invest Asset Management purchased a new stake in shares of Carrier Global in the 3rd quarter valued at approximately $28,000. Finally, Larson Financial Group LLC boosted its stake in Carrier Global by 76.2% in the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada dropped their price objective on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Wells Fargo & Company lifted their price objective on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. TD Cowen upped their target price on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays lifted their price target on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $62.62.

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.