Sanibel Captiva Trust Company Inc. Sells 636 Shares of Carrier Global Co. (NYSE:CARR)

Sanibel Captiva Trust Company Inc. trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,836 shares of the company’s stock after selling 636 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Carrier Global were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $25,000. Olistico Wealth LLC bought a new position in Carrier Global in the second quarter worth approximately $25,000. EdgeRock Capital LLC bought a new position in Carrier Global in the fourth quarter worth approximately $27,000. Finally, Criterion Capital Advisors LLC purchased a new position in Carrier Global in the fourth quarter worth $32,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

NYSE CARR traded down $0.08 during trading hours on Tuesday, hitting $68.56. 2,135,565 shares of the company’s stock traded hands, compared to its average volume of 4,340,487. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09. The company has a market capitalization of $61.77 billion, a PE ratio of 48.00, a PEG ratio of 2.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The firm’s 50-day moving average is $65.14 and its 200-day moving average is $61.06.

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

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 21st were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.11%. Carrier Global’s payout ratio is 53.15%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CARR. Royal Bank of Canada reiterated an “outperform” rating and issued a $72.00 price objective on shares of Carrier Global in a research note on Friday, July 26th. Barclays upped their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Wells Fargo & Company raised their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird lowered their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Two investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.08.

Insider Activity

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

Carrier Global Company 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.