Candriam S.C.A. Sells 17,340 Shares of Carrier Global Corporation $CARR

Candriam S.C.A. lessened its stake in shares of Carrier Global Corporation (NYSE:CARR) by 16.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,165 shares of the company’s stock after selling 17,340 shares during the quarter. Candriam S.C.A.’s holdings in Carrier Global were worth $4,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Johnson Financial Group Inc. bought a new position in shares of Carrier Global in the 2nd quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Carrier Global during the 2nd quarter worth $26,000. Financial Management Professionals Inc. boosted its position in Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. Burnham & Co LLC bought a new stake in Carrier Global during the second quarter valued at about $37,000. Finally, Latitude Advisors LLC bought a new stake in Carrier Global during the third quarter valued at about $27,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.6%

Carrier Global stock opened at $53.02 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.68. The stock has a market capitalization of $43.38 billion, a price-to-earnings ratio of -23.88, a PEG ratio of 1.96 and a beta of 1.33. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The business has a fifty day moving average price of $55.66 and a 200-day moving average price of $61.63.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, topping 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 the consensus estimate of $6.09 billion. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts forecast that Carrier Global Corporation will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global’s dividend payout ratio (DPR) is currently -43.24%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada reduced their target price on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, October 30th. Wells Fargo & Company lowered their price target on shares of Carrier Global from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Sanford C. Bernstein cut their price objective on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 7th. Robert W. Baird cut their price objective on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $69.27.

Carrier Global Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.