Hartline Investment Corp Raises Position in Carrier Global Co. (NYSE:CARR)

Hartline Investment Corp increased its holdings in Carrier Global Co. (NYSE:CARR) by 58.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,983 shares of the company’s stock after purchasing an additional 2,577 shares during the quarter. Hartline Investment Corp’s holdings in Carrier Global were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. boosted its stake in Carrier Global by 0.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after acquiring an additional 181 shares in the last quarter. Graypoint LLC boosted its position in shares of Carrier Global by 1.9% in the fourth quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after purchasing an additional 184 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Carrier Global by 16.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock worth $80,000 after purchasing an additional 200 shares during the period. Operose Advisors LLC boosted its position in shares of Carrier Global by 44.4% in the third quarter. Operose Advisors LLC now owns 650 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares during the period. Finally, Boston Financial Mangement LLC boosted its position in shares of Carrier Global by 2.2% in the third quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock worth $519,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

CARR has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $63.00 price target on shares of Carrier Global in a research note on Thursday, April 18th. Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada lowered their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Barclays lifted their target price on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.15.

Carrier Global Stock Performance

CARR traded down $0.37 during trading on Wednesday, hitting $54.77. The stock had a trading volume of 5,189,280 shares, compared to its average volume of 4,726,724. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The firm has a market capitalization of $49.30 billion, a P/E ratio of 34.92, a PEG ratio of 2.26 and a beta of 1.39. The company’s 50-day moving average price is $56.34 and its 200 day moving average price is $54.76.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. On average, equities research analysts forecast that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is 48.10%.

Insider Buying and Selling at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is owned by corporate 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.