Hohimer Wealth Management LLC Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Hohimer Wealth Management LLC reduced its stake in shares of Carrier Global Co. (NYSE:CARR) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,896 shares of the company’s stock after selling 1,060 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Carrier Global were worth $1,258,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Modera Wealth Management LLC increased its stake in shares of Carrier Global by 19.4% in the 3rd quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after acquiring an additional 3,430 shares in the last quarter. Pinnacle Financial Partners Inc increased its stake in Carrier Global by 9.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares in the last quarter. Andrew Hill Investment Advisors Inc. bought a new stake in Carrier Global during the 4th quarter valued at about $2,081,000. AIA Group Ltd increased its stake in Carrier Global by 16.5% during the 4th quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after purchasing an additional 14,003 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Carrier Global during the 4th quarter valued at about $1,132,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Carrier Global Price Performance

CARR traded down $0.90 during trading hours on Thursday, hitting $64.45. The company’s stock had a trading volume of 1,355,384 shares, compared to its average volume of 4,668,570. The business’s 50-day moving average price is $59.49 and its 200-day moving average price is $56.62. Carrier Global Co. has a 12 month low of $40.49 and a 12 month high of $66.50. The stock has a market cap of $58.07 billion, a price-to-earnings ratio of 45.58, a P/E/G ratio of 2.67 and a beta of 1.34. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Sell-side analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Cowen raised their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Barclays raised their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Robert W. Baird raised their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.71.

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.