Charles Schwab Investment Management Inc. Sells 35,921 Shares of Carrier Global Co. (NYSE:CARR)

Charles Schwab Investment Management Inc. decreased its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,549,752 shares of the company’s stock after selling 35,921 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.54% of Carrier Global worth $226,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CARR. Citigroup Inc. lifted its position in Carrier Global by 22.8% during the second quarter. Citigroup Inc. now owns 568,545 shares of the company’s stock valued at $28,262,000 after buying an additional 105,485 shares during the period. AlphaCore Capital LLC bought a new stake in Carrier Global during the second quarter worth about $335,000. Cetera Investment Advisers grew its holdings in Carrier Global by 1.5% in the second quarter. Cetera Investment Advisers now owns 38,732 shares of the company’s stock worth $1,925,000 after purchasing an additional 588 shares during the period. Veritable L.P. increased its stake in shares of Carrier Global by 1.4% during the second quarter. Veritable L.P. now owns 45,060 shares of the company’s stock valued at $2,240,000 after purchasing an additional 636 shares in the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in shares of Carrier Global by 7.1% during the second quarter. ICW Investment Advisors LLC now owns 13,789 shares of the company’s stock valued at $685,000 after purchasing an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 91.47% of the company’s stock.

Carrier Global Trading Up 1.0 %

Shares of NYSE:CARR opened at $53.22 on Friday. The company has a market cap of $44.65 billion, a P/E ratio of 37.74, a PEG ratio of 1.82 and a beta of 1.45. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.66 and a quick ratio of 1.25. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.04. The stock’s fifty day moving average price is $52.30 and its 200-day moving average price is $50.84.

Carrier Global (NYSE:CARR) last posted its 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. Carrier Global had a return on equity of 26.60% and a net margin of 5.43%. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. Carrier Global’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that Carrier Global Co. will post 2.71 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, October 27th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, October 26th. Carrier Global’s dividend payout ratio is 52.48%.

Analysts Set New Price Targets

Several research firms recently weighed in on CARR. Oppenheimer cut their price target on Carrier Global from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, October 23rd. Wolfe Research cut Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 target price on the stock. in a research note on Thursday, October 12th. Royal Bank of Canada increased their target price on Carrier Global from $54.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Morgan Stanley increased their target price on Carrier Global from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Friday, September 22nd. Finally, UBS Group increased their target price on Carrier Global from $47.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, September 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.