Comerica Bank Has $21.09 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Comerica Bank reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 362,870 shares of the company’s stock after selling 7,242 shares during the period. Comerica Bank’s holdings in Carrier Global were worth $21,094,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. B. Riley Wealth Advisors Inc. increased its position in Carrier Global by 203.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 40,429 shares of the company’s stock worth $2,232,000 after buying an additional 27,100 shares during the last quarter. Janus Henderson Group PLC increased its position in Carrier Global by 28.8% during the first quarter. Janus Henderson Group PLC now owns 294,437 shares of the company’s stock worth $17,114,000 after buying an additional 65,796 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in Carrier Global during the first quarter worth $3,512,000. Silvercrest Asset Management Group LLC increased its position in Carrier Global by 3.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 47,792 shares of the company’s stock worth $2,778,000 after buying an additional 1,761 shares during the last quarter. Finally, BOKF NA increased its position in Carrier Global by 4.8% during the first quarter. BOKF NA now owns 17,384 shares of the company’s stock worth $998,000 after buying an additional 804 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Trading Down 3.5 %

Shares of CARR traded down $2.36 during trading hours on Thursday, hitting $65.75. 1,396,379 shares of the stock were exchanged, compared to its average volume of 4,425,865. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The firm has a market capitalization of $59.36 billion, a P/E ratio of 47.62, a price-to-earnings-growth ratio of 2.69 and a beta of 1.32. The business has a 50-day moving average of $64.64 and a 200-day moving average of $60.15. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $70.09.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the business posted $0.79 earnings per share. Carrier Global’s revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.16%. Carrier Global’s dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Carrier Global in a research report on Friday, July 26th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays raised their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company lifted their target price 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average price target of $66.86.

Insider Buying and Selling at Carrier Global

In other news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated 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 transaction, the vice president now 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. Insiders own 6.95% of the company’s stock.

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.