Carrier Global Corporation $CARR Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its stake in shares of Carrier Global Corporation (NYSE:CARR) by 4.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 90,607 shares of the company’s stock after selling 4,652 shares during the quarter. Wealthfront Advisers LLC’s holdings in Carrier Global were worth $6,632,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CARR. Costello Asset Management INC grew its position in Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after acquiring an additional 127 shares during the period. Rehmann Capital Advisory Group raised its holdings in shares of Carrier Global by 1.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after purchasing an additional 150 shares during the period. Penobscot Investment Management Company Inc. lifted its stake in shares of Carrier Global by 0.7% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after purchasing an additional 155 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Carrier Global by 1.3% during the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock worth $779,000 after purchasing an additional 156 shares during the period. Finally, Code Waechter LLC increased its position in Carrier Global by 5.1% during the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after purchasing an additional 164 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the topic of a number of recent research reports. Oppenheimer cut shares of Carrier Global from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 14th. Melius assumed coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a “hold” rating and a $90.00 target price on the stock. Robert W. Baird lowered their price target on Carrier Global from $84.00 to $75.00 in a report on Thursday, September 11th. JPMorgan Chase & Co. cut their price objective on Carrier Global from $76.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Finally, Mizuho decreased their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.41.

Carrier Global Stock Up 0.7%

Shares of NYSE:CARR opened at $58.23 on Tuesday. The firm has a market cap of $49.55 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The company has a fifty day simple moving average of $61.13 and a 200 day simple moving average of $66.99. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. On average, equities research analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio (DPR) is presently 19.61%.

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.