Ameritas Investment Partners Inc. Lowers Position in Carrier Global Co. (NYSE:CARR)

Ameritas Investment Partners Inc. cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,037 shares of the company’s stock after selling 287 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Carrier Global were worth $525,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rockport Wealth LLC bought a new position in shares of Carrier Global during the 1st quarter worth $478,000. Bahl & Gaynor Inc. grew its stake in shares of Carrier Global by 2.2% during the 1st quarter. Bahl & Gaynor Inc. now owns 103,363 shares of the company’s stock worth $6,008,000 after acquiring an additional 2,181 shares during the period. Covestor Ltd grew its stake in shares of Carrier Global by 37.6% during the 1st quarter. Covestor Ltd now owns 2,209 shares of the company’s stock worth $129,000 after acquiring an additional 604 shares during the period. Edgestream Partners L.P. grew its stake in shares of Carrier Global by 52.5% during the 1st quarter. Edgestream Partners L.P. now owns 66,842 shares of the company’s stock worth $3,886,000 after acquiring an additional 23,021 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after acquiring an additional 466,829 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 2.2 %

Shares of CARR traded down $1.51 during mid-day trading on Wednesday, hitting $66.76. 2,457,573 shares of the company’s stock traded hands, compared to its average volume of 4,435,623. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $70.09. The firm has a market capitalization of $60.15 billion, a P/E ratio of 47.14, a PEG ratio of 2.65 and a beta of 1.32. The business’s 50-day moving average price is $64.49 and its 200-day moving average price is $59.74.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. As a group, sell-side analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.14%. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Activity at Carrier Global

In related news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the sale, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock worth $16,650,050 over the last ninety days. 6.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CARR has been the subject of several analyst reports. Oppenheimer raised their target price on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. TD Cowen lifted their price target on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Barclays lifted their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company raised their price objective on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Hold” and a consensus target price of $64.93.

About Carrier Global

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.