Carrier Global Co. (NYSE:CARR) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 46.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 795 shares of the company’s stock after selling 680 shares during the period. Indiana Trust & Investment Management Co’s holdings in Carrier Global were worth $64,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CARR. JPMorgan Chase & Co. grew its stake in shares of Carrier Global by 280.1% in the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. Capital International Investors lifted its holdings in shares of Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Carrier Global during the 2nd quarter worth $58,415,000. Finally, Vanguard Group Inc. grew its holdings in shares of Carrier Global by 0.5% during the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock opened at $81.05 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The firm has a market cap of $73.03 billion, a price-to-earnings ratio of 56.68, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a one year low of $45.68 and a one year high of $83.32. The stock’s fifty day simple moving average is $74.63 and its 200 day simple moving average is $66.88.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. On average, analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the firm’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 completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CARR. Bank of America increased their price target on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Morgan Stanley assumed coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Robert W. Baird cut their target price 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. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

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.