Mitsubishi UFJ Trust & Banking Corp Sells 43,833 Shares of Carrier Global Co. (NYSE:CARR)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Carrier Global Co. (NYSE:CARR) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 409,912 shares of the company’s stock after selling 43,833 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Carrier Global were worth $23,826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Manchester Capital Management LLC raised its stake in Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after buying an additional 180 shares during the period. Sunbelt Securities Inc. lifted its position in Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after acquiring an additional 182 shares in the last quarter. Graypoint LLC boosted its stake in Carrier Global by 1.9% during the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after purchasing an additional 184 shares during the last quarter. Sovereign Financial Group Inc. increased its holdings in Carrier Global by 4.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after purchasing an additional 188 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in shares of Carrier Global by 2.3% in the first quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock worth $517,000 after purchasing an additional 197 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Robert W. Baird raised Carrier Global from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $64.00 to $75.00 in a research report on Monday, July 15th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, TD Cowen lifted their price objective on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and a consensus target price of $64.93.

Carrier Global Price Performance

Shares of CARR traded down $0.81 during midday trading on Friday, hitting $66.24. 2,822,408 shares of the company traded hands, compared to its average volume of 4,008,864. Carrier Global Co. has a one year low of $45.68 and a one year high of $70.09. The firm has a market cap of $59.68 billion, a P/E ratio of 46.32, a PEG ratio of 2.58 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a 50-day moving average of $64.35 and a 200-day moving average of $59.53.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The company had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. As a group, sell-side analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.15%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Activity at Carrier Global

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 262,954 shares of company stock valued at $16,650,050. Company insiders own 6.95% of the company’s stock.

Carrier Global 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.