Relyea Zuckerberg Hanson LLC Sells 799 Shares of Carrier Global Co. (NYSE:CARR)

Relyea Zuckerberg Hanson LLC cut its stake in Carrier Global Co. (NYSE:CARR) by 17.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,868 shares of the company’s stock after selling 799 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Carrier Global were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC boosted its holdings in Carrier Global by 2.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 113,642 shares of the company’s stock valued at $7,205,000 after purchasing an additional 2,199 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Carrier Global by 15.1% during the 1st quarter. Fifth Third Bancorp now owns 103,263 shares of the company’s stock worth $6,547,000 after acquiring an additional 13,555 shares during the period. Simon Quick Advisors LLC lifted its holdings in shares of Carrier Global by 20.5% during the 1st quarter. Simon Quick Advisors LLC now owns 3,898 shares of the company’s stock worth $247,000 after acquiring an additional 663 shares during the period. Curbstone Financial Management Corp increased its position in shares of Carrier Global by 2.6% during the 1st quarter. Curbstone Financial Management Corp now owns 23,898 shares of the company’s stock worth $1,515,000 after purchasing an additional 600 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Carrier Global by 1,046.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 741,177 shares of the company’s stock worth $46,991,000 after purchasing an additional 676,508 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director now owns 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, May 9th. Mizuho set a $72.00 target price on shares of Carrier Global in a research report on Tuesday, April 22nd. Royal Bank of Canada increased their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. The Goldman Sachs Group reiterated a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Finally, Robert W. Baird increased their target price on shares of Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Carrier Global Stock Down 1.8%

Shares of NYSE:CARR opened at $71.17 on Friday. Carrier Global Co. has a one year low of $54.22 and a one year high of $83.32. The company has a 50 day moving average of $67.57 and a 200-day moving average of $67.54. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The stock has a market cap of $61.01 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the company earned $0.51 EPS. Carrier Global’s revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global’s dividend payout ratio is 13.93%.

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.