Carrier Global Corporation $CARR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Carrier Global Corporation (NYSE:CARR) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,548,516 shares of the company’s stock after selling 68,081 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Carrier Global worth $84,952,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Van Hulzen Asset Management LLC bought a new position in shares of Carrier Global during the 2nd quarter valued at approximately $1,992,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Carrier Global by 269.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 118,806 shares of the company’s stock worth $6,646,000 after purchasing an additional 86,665 shares during the period. Cardinal Capital Management Inc. raised its holdings in shares of Carrier Global by 7.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company’s stock worth $42,201,000 after purchasing an additional 37,934 shares during the period. Reynders McVeigh Capital Management LLC raised its holdings in shares of Carrier Global by 3.0% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 918,219 shares of the company’s stock worth $67,351,000 after purchasing an additional 27,061 shares during the period. Finally, Cohen Klingenstein LLC lifted its stake in Carrier Global by 317.2% in the third quarter. Cohen Klingenstein LLC now owns 190,538 shares of the company’s stock valued at $10,453,000 after purchasing an additional 144,870 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $55.30 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 1.00. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $76.76. The firm has a market cap of $45.25 billion, a price-to-earnings ratio of -24.91, a PEG ratio of 2.02 and a beta of 1.33. The business’s fifty day moving average is $56.17 and its 200 day moving average is $61.71.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.11. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Research analysts predict that Carrier Global Corporation will post 2.86 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.96 annualized dividend and a yield of 1.7%. Carrier Global’s payout ratio is currently -43.24%.

Wall Street Analyst Weigh In

CARR has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Carrier Global from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, October 30th. JPMorgan Chase & Co. dropped their price target on Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Robert W. Baird cut their price target on Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho decreased their price objective on Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Finally, Royal Bank Of Canada dropped their price objective on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $69.27.

Carrier Global Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.