Carrier Global Co. (NYSE:CARR) Shares Sold by M. Kraus & Co

M. Kraus & Co lowered its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,937 shares of the company’s stock after selling 3,052 shares during the period. Carrier Global makes up about 3.5% of M. Kraus & Co’s holdings, making the stock its 6th biggest position. M. Kraus & Co’s holdings in Carrier Global were worth $12,068,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. Sivia Capital Partners LLC bought a new position in shares of Carrier Global in the third quarter valued at approximately $208,000. Procyon Advisors LLC lifted its holdings in Carrier Global by 13.8% during the third quarter. Procyon Advisors LLC now owns 5,730 shares of the company’s stock worth $461,000 after acquiring an additional 697 shares during the period. Koshinski Asset Management Inc. bought a new stake in Carrier Global during the third quarter worth $201,000. CHICAGO TRUST Co NA raised its stake in shares of Carrier Global by 11.4% in the third quarter. CHICAGO TRUST Co NA now owns 4,089 shares of the company’s stock valued at $329,000 after buying an additional 419 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Carrier Global by 69.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock valued at $96,000 after buying an additional 487 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock traded up $1.01 during trading on Monday, reaching $82.62. The company had a trading volume of 548,709 shares, compared to its average volume of 4,147,348. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $82.66. The firm’s 50-day simple moving average is $73.54 and its 200 day simple moving average is $66.44. The firm has a market capitalization of $74.44 billion, a price-to-earnings ratio of 57.27, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the business posted $0.79 EPS. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.92%. Carrier Global’s payout ratio is currently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. began coverage on Carrier Global in a research report on Thursday. They set a “neutral” rating and a $83.00 target price for the company. Robert W. Baird reduced their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Oppenheimer lifted their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $79.50.

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.