Securian Asset Management Inc. Trims Position in Carrier Global Co. (NYSE:CARR)

Securian Asset Management Inc. reduced its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,182 shares of the company’s stock after selling 1,027 shares during the quarter. Securian Asset Management Inc.’s holdings in Carrier Global were worth $3,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank increased its holdings in Carrier Global by 8.6% during the 2nd quarter. Czech National Bank now owns 159,677 shares of the company’s stock worth $10,072,000 after purchasing an additional 12,674 shares during the period. MJP Associates Inc. ADV increased its stake in Carrier Global by 5.9% during the 2nd quarter. MJP Associates Inc. ADV now owns 7,459 shares of the company’s stock worth $470,000 after buying an additional 413 shares in the last quarter. Curated Wealth Partners LLC increased its stake in Carrier Global by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 12,800 shares of the company’s stock worth $807,000 after buying an additional 25,600 shares in the last quarter. Ignite Planners LLC purchased a new stake in shares of Carrier Global in the second quarter valued at approximately $215,000. Finally, SG Americas Securities LLC grew its position in shares of Carrier Global by 774.8% in the second quarter. SG Americas Securities LLC now owns 161,778 shares of the company’s stock valued at $10,205,000 after purchasing an additional 185,751 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CARR. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. TD Cowen upped their price objective on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company upped their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Oppenheimer decreased their price target on Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $66.77.

Carrier Global Stock Down 0.3 %

Carrier Global stock traded down $0.17 during trading on Monday, reaching $64.21. 797,058 shares of the company’s stock were exchanged, compared to its average volume of 4,375,500. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company’s 50-day moving average is $64.63 and its two-hundred day moving average is $60.60. The firm has a market cap of $57.85 billion, a price-to-earnings ratio of 45.23, a PEG ratio of 2.63 and a beta of 1.32. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. On average, analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 21st were paid a dividend of $0.19 per share. The ex-dividend date was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.18%. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

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.