Carrier Global Co. (NYSE:CARR) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in Carrier Global Co. (NYSE:CARR) by 29.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,497 shares of the company’s stock after selling 99,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Carrier Global were worth $11,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of Carrier Global by 29.2% in the first quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after acquiring an additional 3,700 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Carrier Global by 40.1% during the first quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock worth $1,673,000 after buying an additional 10,445 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Carrier Global by 23.2% during the first quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after buying an additional 1,412 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Carrier Global by 22.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock worth $2,992,000 after buying an additional 12,089 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Carrier Global by 10.6% during the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock worth $36,078,000 after buying an additional 75,622 shares in the last quarter. Institutional investors and hedge funds own 91.47% of the company’s stock.

Carrier Global Stock Down 0.9 %

Carrier Global stock opened at $52.35 on Thursday. The company has a market capitalization of $43.92 billion, a P/E ratio of 37.13, a P/E/G ratio of 1.77 and a beta of 1.45. The firm’s fifty day simple moving average is $52.50 and its 200-day simple moving average is $50.74. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 1.02. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.04.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.11. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.89 billion. Carrier Global had a net margin of 5.43% and a return on equity of 26.60%. Carrier Global’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. Sell-side analysts forecast that Carrier Global Co. will post 2.71 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, October 27th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Thursday, October 26th. This represents a $0.74 dividend on an annualized basis and a yield of 1.41%. Carrier Global’s payout ratio is presently 52.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CARR shares. UBS Group raised their price objective on shares of Carrier Global from $47.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, September 8th. Mizuho lowered shares of Carrier Global from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $61.00 in a research note on Thursday, September 14th. Morgan Stanley raised their price objective on shares of Carrier Global from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Friday, September 22nd. Wolfe Research lowered shares of Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 price objective for the company. in a research note on Thursday, October 12th. Finally, Argus raised their price objective on shares of Carrier Global from $52.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.63.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.