Truist Financial Corp Lowers Position in Carrier Global Co. (NYSE:CARR)

Truist Financial Corp lowered its holdings in Carrier Global Co. (NYSE:CARR) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 208,204 shares of the company’s stock after selling 26,210 shares during the quarter. Truist Financial Corp’s holdings in Carrier Global were worth $11,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CARR. McClarren Financial Advisors Inc. increased its position in shares of Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Carrier Global during the 3rd quarter valued at about $28,000. Larson Financial Group LLC increased its position in shares of Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Carrier Global during the 3rd quarter valued at about $30,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Carrier Global during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR opened at $61.12 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $63.79. The stock has a market capitalization of $55.07 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 2.64 and a beta of 1.39. The stock’s 50 day moving average price is $57.02 and its 200-day moving average price is $54.98.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. On average, equities research analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.24%. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Activity at Carrier Global

In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold 541,005 shares of company stock worth $30,536,214 over the last ninety days. 6.95% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CARR. Citigroup raised their price target on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada reduced their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Oppenheimer raised their price target on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Barclays raised their price target on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Carrier Global has a consensus rating of “Hold” and a consensus target price of $62.62.

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.