Regal Wealth Group Inc. Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Regal Wealth Group Inc. trimmed its stake in shares of Carrier Global Co. (NYSE:CARR) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,854 shares of the company’s stock after selling 756 shares during the period. Regal Wealth Group Inc.’s holdings in Carrier Global were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. Tocqueville Asset Management L.P. increased its holdings in Carrier Global by 1.8% during the second quarter. Tocqueville Asset Management L.P. now owns 361,836 shares of the company’s stock valued at $17,585,000 after buying an additional 6,571 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its holdings in Carrier Global by 2.8% during the third quarter. CHURCHILL MANAGEMENT Corp now owns 168,017 shares of the company’s stock valued at $8,697,000 after buying an additional 4,622 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Carrier Global by 6.6% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 243,453 shares of the company’s stock valued at $11,832,000 after buying an additional 14,987 shares during the last quarter. MML Investors Services LLC increased its holdings in Carrier Global by 29.0% during the second quarter. MML Investors Services LLC now owns 135,188 shares of the company’s stock valued at $6,570,000 after buying an additional 30,392 shares during the last quarter. Finally, Lansdowne Partners UK LLP increased its holdings in Carrier Global by 17.9% during the second quarter. Lansdowne Partners UK LLP now owns 3,613,046 shares of the company’s stock valued at $175,594,000 after buying an additional 548,532 shares during the last quarter. 83.52% of the stock is owned by hedge funds and other institutional investors.

In other Carrier Global news, insider Jurgen Timperman sold 33,036 shares of the stock in a transaction on Friday, November 12th. The shares were sold at an average price of $56.05, for a total transaction of $1,851,667.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the stock. Wolfe Research lowered shares of Carrier Global from an “outperform” rating to a “peer perform” rating and upped their price target for the stock from $58.00 to $61.00 in a research report on Tuesday, September 7th. Citigroup assumed coverage on shares of Carrier Global in a research report on Friday, August 13th. They issued a “neutral” rating for the company. Wells Fargo & Company assumed coverage on shares of Carrier Global in a research report on Thursday, October 7th. They issued an “equal weight” rating and a $51.00 price target for the company. Royal Bank of Canada dropped their price target on shares of Carrier Global from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, October 29th. Finally, Barclays upped their price target on shares of Carrier Global from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, October 4th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Carrier Global has an average rating of “Buy” and an average target price of $56.13.

Shares of NYSE:CARR traded up $0.82 during midday trading on Thursday, reaching $55.69. 3,618,678 shares of the company were exchanged, compared to its average volume of 5,033,014. The company has a current ratio of 1.86, a quick ratio of 1.54 and a debt-to-equity ratio of 1.32. The business’s fifty day moving average is $53.62 and its two-hundred day moving average is $51.61. Carrier Global Co. has a one year low of $34.21 and a one year high of $58.89. The stock has a market cap of $48.26 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, October 28th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. Carrier Global had a net margin of 11.08% and a return on equity of 27.46%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter last year, the business earned $0.67 earnings per share. Carrier Global’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that Carrier Global Co. will post 2.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 22nd. Shareholders of record on Friday, October 29th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $0.48 annualized dividend and a yield of 0.86%. Carrier Global’s dividend payout ratio (DPR) is currently 19.12%.

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 and cooling needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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