Insider Selling: Carrier Global Co. (NYSE:CARR) Director Sells $299,999,977.50 in Stock

Carrier Global Co. (NYSE:CARR) Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the sale, the director now directly owns 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Carrier Global Stock Down 0.4%

Shares of CARR opened at $71.09 on Monday. The company has a market capitalization of $60.95 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.01 and a beta of 1.33. The stock’s 50-day moving average price is $66.27 and its 200-day moving average price is $67.60. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 52 week low of $54.22 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. Carrier Global’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, sell-side analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd were given a dividend of $0.225 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. Carrier Global’s dividend payout ratio is currently 13.93%.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently made changes to their positions in the company. BOK Financial Private Wealth Inc. raised its holdings in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after acquiring an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $28,000. Accredited Wealth Management LLC acquired a new stake in shares of Carrier Global in the first quarter valued at approximately $28,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CARR. Barclays lifted their target price on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Royal Bank of Canada lifted their target price on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price objective on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Finally, Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.