Allspring Global Investments Holdings LLC Sells 66,056 Shares of Carrier Global Co. (NYSE:CARR)

Allspring Global Investments Holdings LLC lowered its stake in Carrier Global Co. (NYSE:CARR) by 56.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,706 shares of the company’s stock after selling 66,056 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Carrier Global were worth $3,262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CARR. JPMorgan Chase & Co. lifted its stake in Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares during the last quarter. Norges Bank acquired a new position in shares of Carrier Global during the fourth quarter worth $444,487,000. Capital International Investors lifted its stake in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after acquiring an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Insider Activity

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CARR shares. Oppenheimer lifted their price target on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $72.00 in a report on Monday, July 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $72.00 price objective on shares of Carrier Global in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.08.

Carrier Global Trading Up 2.4 %

Shares of CARR stock opened at $72.78 on Monday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $73.04. 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 stock has a 50 day simple moving average of $66.33 and a two-hundred day simple moving average of $62.05. The company has a market cap of $65.70 billion, a P/E ratio of 50.90, a PEG ratio of 2.90 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’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 business posted $0.79 EPS. Research analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 21st were given a dividend of $0.19 per share. The ex-dividend date was Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. Carrier Global’s dividend payout ratio (DPR) is presently 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.