Payden & Rygel Decreases Position in Carrier Global Co. (NYSE:CARR)

Payden & Rygel decreased its position in Carrier Global Co. (NYSE:CARR) by 17.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 320,670 shares of the company’s stock after selling 68,630 shares during the period. Payden & Rygel’s holdings in Carrier Global were worth $15,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Knuff & Co LLC bought a new stake in shares of Carrier Global in the second quarter valued at approximately $25,000. Covestor Ltd lifted its position in shares of Carrier Global by 121.2% during the first quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 303 shares in the last quarter. Avalon Trust Co bought a new position in shares of Carrier Global in the second quarter worth $27,000. WealthPLAN Partners LLC purchased a new position in shares of Carrier Global in the first quarter valued at $29,000. Finally, Nemes Rush Group LLC bought a new stake in shares of Carrier Global during the 2nd quarter valued at $29,000. 91.47% of the stock is owned by institutional investors.

Carrier Global Trading Up 1.0 %

NYSE:CARR traded up $0.54 during trading hours on Friday, reaching $53.22. The company’s stock had a trading volume of 2,855,544 shares, compared to its average volume of 5,072,822. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.25 and a current ratio of 1.66. The firm has a market capitalization of $44.65 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 1.82 and a beta of 1.45. The firm has a 50-day simple moving average of $52.30 and a 200-day simple moving average of $50.90. 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 data on Thursday, October 26th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.78 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.89 billion. Carrier Global had a return on equity of 26.60% and a net margin of 5.43%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Research analysts expect that Carrier Global Co. will post 2.71 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Friday, October 27th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, October 26th. Carrier Global’s dividend payout ratio (DPR) is presently 52.48%.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. Bank of America downgraded Carrier Global from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $62.00 to $55.00 in a research note on Thursday, October 5th. Royal Bank of Canada upped their target price on shares of Carrier Global from $54.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Wolfe Research downgraded shares of Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 price target for the company. in a report on Thursday, October 12th. Wells Fargo & Company decreased their price target on shares of Carrier Global from $60.00 to $55.00 in a report on Monday, October 9th. Finally, UBS Group lifted their price objective on Carrier Global from $47.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, September 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.63.

About Carrier Global

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.