Highland Capital Management LLC Has $14.70 Million Stake in Carrier Global Co. (NYSE:CARR)

Highland Capital Management LLC lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,979 shares of the company’s stock after selling 2,277 shares during the period. Carrier Global comprises 0.9% of Highland Capital Management LLC’s holdings, making the stock its 26th largest holding. Highland Capital Management LLC’s holdings in Carrier Global were worth $14,696,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares in the last quarter. Norges Bank acquired a new stake in shares of Carrier Global during the 4th quarter worth $444,487,000. Capital International Investors grew its holdings in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. increased its position in shares of Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. Finally, Capital Research Global Investors lifted its position in Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. 91.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. TD Cowen boosted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Robert W. Baird decreased their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $72.00 target price on shares of Carrier Global in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $67.08.

Carrier Global Trading Up 2.4 %

Shares of CARR traded up $1.67 during mid-day trading on Friday, reaching $71.25. 2,509,511 shares of the company were exchanged, compared to its average volume of 4,304,470. The business has a 50 day simple moving average of $65.63 and a two-hundred day simple moving average of $61.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock has a market capitalization of $64.20 billion, a PE ratio of 49.83, a PEG ratio of 2.63 and a beta of 1.32. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $71.52.

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 the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter last year, the business earned $0.79 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.07%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

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.