Hartford Investment Management Co. Sells 773 Shares of Carrier Global Co. (NYSE:CARR)

Hartford Investment Management Co. cut its stake in Carrier Global Co. (NYSE:CARR) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,913 shares of the company’s stock after selling 773 shares during the period. Hartford Investment Management Co.’s holdings in Carrier Global were worth $4,259,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. RFG Advisory LLC boosted its position in shares of Carrier Global by 14.9% during the first quarter. RFG Advisory LLC now owns 5,779 shares of the company’s stock valued at $336,000 after purchasing an additional 749 shares in the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Carrier Global by 8.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,214 shares of the company’s stock worth $303,000 after buying an additional 426 shares during the period. Sunbelt Securities Inc. increased its stake in shares of Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after acquiring an additional 182 shares in the last quarter. Brookstone Capital Management lifted its position in Carrier Global by 14.4% during the 1st quarter. Brookstone Capital Management now owns 5,683 shares of the company’s stock valued at $330,000 after acquiring an additional 715 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its stake in Carrier Global by 18.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,847 shares of the company’s stock worth $398,000 after acquiring an additional 1,088 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

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 completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.95% of the company’s stock.

Carrier Global Trading Down 0.2 %

Shares of CARR stock opened at $79.95 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32. The stock has a market capitalization of $72.04 billion, a P/E ratio of 55.91, a P/E/G ratio of 2.94 and a beta of 1.32. The firm’s 50 day moving average is $76.24 and its 200 day moving average is $67.73.

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 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 firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is 53.15%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CARR shares. Royal Bank of Canada raised their target price on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective for the company. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Mizuho lifted their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Bank of America increased their price objective on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Seven equities research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

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.