Carrier Global Co. (NYSE:CARR) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,910 shares of the company’s stock after selling 138 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Carrier Global were worth $798,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB increased its position in Carrier Global by 5.5% during the first quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after buying an additional 43,002 shares during the period. Frank Rimerman Advisors LLC boosted its stake in Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after purchasing an additional 13,677 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Carrier Global in the first quarter valued at $2,019,000. Finally, Kintegral Advisory LLC boosted its stake in shares of Carrier Global by 44.2% during the second quarter. Kintegral Advisory LLC now owns 28,395 shares of the company’s stock worth $1,797,000 after buying an additional 8,705 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Shares of CARR stock opened at $73.72 on Friday. 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 stock has a market cap of $66.42 billion, a PE ratio of 51.55, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $83.32. The stock has a fifty day moving average price of $76.46 and a 200 day moving average price of $67.94.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.04). Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Sell-side analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Carrier Global announced that its Board of Directors has approved a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CARR shares. Mizuho boosted their price target on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays decreased their price target on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada dropped their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America raised their target price on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $81.75.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the 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 sale, the vice president now owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.