Mendota Financial Group LLC Decreases Position in Carrier Global Co. (NYSE:CARR)

Mendota Financial Group LLC decreased its stake in Carrier Global Co. (NYSE:CARR) by 15.7% in the third quarter, Holdings Channel.com reports. The firm owned 2,228 shares of the company’s stock after selling 416 shares during the period. Mendota Financial Group LLC’s holdings in Carrier Global were worth $179,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CARR. Nordea Investment Management AB raised its position in Carrier Global by 5.5% in the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after purchasing an additional 43,002 shares during the period. Frank Rimerman Advisors LLC lifted its stake in shares of Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock worth $864,000 after acquiring an additional 13,677 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Carrier Global during the 4th quarter valued at $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after acquiring an additional 130,192 shares during the period. Finally, GLOBALT Investments LLC GA bought a new position in Carrier Global in the 4th quarter valued at $859,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 1.5 %

CARR opened at $81.61 on Friday. The firm has a market cap of $73.67 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.94 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $73.54 and a 200-day moving average price of $66.32. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $82.16.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 20.27%.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Oppenheimer boosted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Wells Fargo & Company raised their target price on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on Carrier Global in a report on Thursday. They set a “neutral” rating and a $83.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.36.

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.