Cutler Investment Counsel LLC Lowers Stock Position in Carrier Global Corporation (NYSE:CARR)

Cutler Investment Counsel LLC lessened its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,820 shares of the company’s stock after selling 4,317 shares during the period. Cutler Investment Counsel LLC’s holdings in Carrier Global were worth $9,752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ritter Daniher Financial Advisory LLC DE boosted its stake in Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Carrier Global during the fourth quarter valued at approximately $28,000. Investment Research & Advisory Group Inc. purchased a new position in shares of Carrier Global during the first quarter valued at approximately $29,000. Mattson Financial Services LLC bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after buying an additional 340 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the sale, the director owned 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.20% of the company’s stock.

Carrier Global Stock Performance

CARR opened at $71.72 on Wednesday. The company’s 50 day moving average is $73.57 and its 200 day moving average is $68.33. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The company has a market cap of $61.49 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.19 and a beta of 1.31. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The business 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 25.45% and a return on equity of 18.10%. On average, equities research analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.25%. Carrier Global’s dividend payout ratio is currently 13.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird cut their target price on Carrier Global from $88.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Barclays increased their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Mizuho set a $72.00 price objective on shares of Carrier Global in a research note on Tuesday, April 22nd. Melius started coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $84.65.

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.