First United Bank & Trust Sells 865 Shares of Carrier Global Co. (NYSE:CARR)

First United Bank & Trust cut its stake in Carrier Global Co. (NYSE:CARR) by 52.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 800 shares of the company’s stock after selling 865 shares during the period. First United Bank & Trust’s holdings in Carrier Global were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CARR. JPMorgan Chase & Co. boosted its position in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares during the period. Capital International Investors raised its position in Carrier Global by 4.6% in 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 last quarter. PineStone Asset Management Inc. lifted its stake in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after acquiring an additional 3,741,206 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Carrier Global during the 2nd quarter worth approximately $58,415,000. Finally, Vanguard Group Inc. grew its stake in shares of Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after acquiring an additional 466,829 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of research reports. Oppenheimer boosted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Stephens cut Carrier Global from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $75.00 to $85.00 in a report on Wednesday. Morgan Stanley assumed coverage on Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Finally, Bank of America increased their price target on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the 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 completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.95% of the stock is currently owned by company insiders.

Carrier Global Stock Down 0.7 %

CARR stock opened at $81.05 on Thursday. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $83.32. The business’s 50 day simple moving average is $74.63 and its 200 day simple moving average is $66.88. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $73.03 billion, a PE ratio of 56.68, a PEG ratio of 2.94 and a beta of 1.32.

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

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is 53.15%.

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.