Cullen Frost Bankers Inc. Cuts Stock Position in Carrier Global Co. (NYSE:CARR)

Cullen Frost Bankers Inc. trimmed its position in Carrier Global Co. (NYSE:CARR) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,118 shares of the company’s stock after selling 6,850 shares during the period. Cullen Frost Bankers Inc.’s holdings in Carrier Global were worth $7,763,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Carrier Global by 4.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 163,655 shares of the company’s stock valued at $9,034,000 after buying an additional 6,600 shares during the period. Brighton Jones LLC lifted its holdings in Carrier Global by 9.1% in the third quarter. Brighton Jones LLC now owns 4,830 shares of the company’s stock valued at $267,000 after acquiring an additional 402 shares during the period. Strs Ohio boosted its position in shares of Carrier Global by 2.1% during the 3rd quarter. Strs Ohio now owns 280,221 shares of the company’s stock worth $15,468,000 after purchasing an additional 5,801 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Carrier Global by 2.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 145,391 shares of the company’s stock worth $8,026,000 after purchasing an additional 3,691 shares during the period. Finally, Advisor Partners II LLC increased its holdings in shares of Carrier Global by 9.5% in the 3rd quarter. Advisor Partners II LLC now owns 43,346 shares of the company’s stock valued at $2,393,000 after purchasing an additional 3,753 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on CARR shares. Royal Bank of Canada lowered their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Wells Fargo & Company upped their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. TD Cowen boosted their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Robert W. Baird raised their price target on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Oppenheimer boosted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Hold” and an average target price of $62.71.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $64.32 on Thursday. The company has a 50-day simple moving average of $57.71 and a 200-day simple moving average of $55.36. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market cap of $57.95 billion, a PE ratio of 44.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a 12 month low of $40.49 and a 12 month high of $64.69.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The company had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. On average, equities analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.95% of the stock is owned by company insiders.

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.