South Dakota Investment Council Sells 3,625 Shares of Carrier Global Co. (NYSE:CARR)

South Dakota Investment Council reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 9.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,141 shares of the company’s stock after selling 3,625 shares during the period. South Dakota Investment Council’s holdings in Carrier Global were worth $2,019,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Carrier Global during the 4th quarter worth approximately $484,000. Harbor Advisors LLC grew its holdings in shares of Carrier Global by 75.4% in the fourth quarter. Harbor Advisors LLC now owns 13,000 shares of the company’s stock valued at $747,000 after acquiring an additional 5,589 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Carrier Global by 6.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,250 shares of the company’s stock valued at $187,000 after acquiring an additional 209 shares in the last quarter. RWA Wealth Partners LLC bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $241,000. Finally, Cetera Trust Company N.A bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $40,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Down 0.7 %

NYSE:CARR opened at $54.77 on Thursday. The company has a market cap of $49.30 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.33 and a beta of 1.39. The stock’s fifty day moving average price is $56.34 and its two-hundred day moving average price is $54.76. Carrier Global Co. has a 1 year low of $40.28 and a 1 year high of $60.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts expect that Carrier Global Co. will post 2.82 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.39%. Carrier Global’s dividend payout ratio (DPR) is presently 48.10%.

Insider Buying and Selling

In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CARR has been the subject of several recent analyst reports. Royal Bank of Canada reduced their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $63.00 target price on shares of Carrier Global in a report on Thursday, April 18th. Citigroup upped their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reduced their price objective on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, Barclays increased their price objective on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.15.

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.