Carrier Global Co. (NYSE:CARR) Shares Sold by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,692 shares of the company’s stock after selling 774 shares during the quarter. Carrier Global accounts for 0.9% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 24th largest position. Trueblood Wealth Management LLC’s holdings in Carrier Global were worth $1,746,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares in the last quarter. Capital International Investors lifted its holdings in Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after buying an additional 3,741,206 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after buying an additional 72,633 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on 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 directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CARR. Mizuho increased their target price on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday. Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.75.

Carrier Global Trading Up 1.4 %

NYSE CARR opened at $73.72 on Friday. 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’s fifty day moving average price is $76.46 and its 200 day moving average price is $67.87. The company has a market capitalization of $66.42 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.61 billion. On average, sell-side analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global announced that its board has approved a stock buyback program on Thursday, October 24th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is currently 53.15%.

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.