Silver Oak Securities Incorporated Cuts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Silver Oak Securities Incorporated decreased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,987 shares of the company’s stock after selling 286 shares during the period. Silver Oak Securities Incorporated’s holdings in Carrier Global were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp increased its position in Carrier Global by 3.4% during the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after purchasing an additional 289,973 shares during the period. FMR LLC grew its position in shares of Carrier Global by 18.3% in the 3rd quarter. FMR LLC now owns 6,666,775 shares of the company’s stock worth $368,006,000 after buying an additional 1,033,484 shares during the last quarter. C WorldWide Group Holding A S purchased a new position in shares of Carrier Global in the 3rd quarter worth approximately $260,761,000. JPMorgan Chase & Co. grew its position in shares of Carrier Global by 12.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock worth $258,438,000 after buying an additional 521,189 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Carrier Global by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,576,177 shares of the company’s stock worth $252,605,000 after buying an additional 26,425 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CARR. Barclays lifted their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen lifted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday. Oppenheimer lifted their target price on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.62.

Carrier Global Price Performance

NYSE:CARR opened at $62.77 on Tuesday. The firm’s fifty day moving average is $56.72 and its two-hundred day moving average is $54.88. The firm has a market cap of $56.56 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 2.53 and a beta of 1.39. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global Co. has a one year low of $40.28 and a one year high of $62.88.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Research analysts expect that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.21%. Carrier Global’s payout ratio is 53.15%.

Carrier Global Profile

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.