Segment Wealth Management LLC Decreases Stock Position in Carrier Global Co. (NYSE:CARR)

Segment Wealth Management LLC reduced its position in Carrier Global Co. (NYSE:CARR) by 0.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 183,656 shares of the company’s stock after selling 434 shares during the period. Segment Wealth Management LLC’s holdings in Carrier Global were worth $14,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Capital International Investors raised its holdings in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. PineStone Asset Management Inc. boosted its stake in Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after buying an additional 3,741,206 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Carrier Global in the second quarter valued at $58,415,000. Finally, Vanguard Group Inc. raised its stake in shares of Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of CARR stock opened at $80.16 on Wednesday. The company has a market cap of $72.23 billion, a P/E ratio of 56.06, a PEG ratio of 2.94 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 stock’s 50-day moving average is $75.95 and its 200 day moving average is $67.64. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data 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. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Research analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

CARR has been the topic of several analyst reports. Mizuho upped their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company upped their price objective on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Stephens downgraded Carrier Global from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $75.00 to $85.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the business’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 transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.95% of the company’s stock.

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.