Sawgrass Asset Management LLC Has $793,000 Holdings in Carrier Global Corporation (NYSE:CARR)

Sawgrass Asset Management LLC lessened its position in Carrier Global Corporation (NYSE:CARR) by 5.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,503 shares of the company’s stock after selling 779 shares during the period. Sawgrass Asset Management LLC’s holdings in Carrier Global were worth $793,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CARR. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $588,029,000. Wealthfront Advisers LLC lifted its holdings in shares of Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after purchasing an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Carrier Global by 139.1% in the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock valued at $361,544,000 after purchasing an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $166,061,000. Finally, Raymond James Financial Inc. bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $108,433,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the sale, the director now directly owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $70.37 on Monday. The firm has a market cap of $60.33 billion, a PE ratio of 10.89, a PEG ratio of 1.98 and a beta of 1.33. The stock’s fifty day moving average price is $68.68 and its two-hundred day moving average price is $67.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, equities research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a $0.225 dividend. The ex-dividend date is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. Carrier Global’s payout ratio is presently 13.93%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CARR. Royal Bank Of Canada raised their target price on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. The Goldman Sachs Group restated a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Barclays raised their target price on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Citigroup dropped their price target on Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company lifted their price target on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

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.