Carrier Global Co. (NYSE:CARR) Stock Position Lifted by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC lifted its position in Carrier Global Co. (NYSE:CARR) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 109,349 shares of the company’s stock after buying an additional 515 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Carrier Global were worth $6,282,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its holdings in Carrier Global by 4.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 163,655 shares of the company’s stock valued at $9,034,000 after buying an additional 6,600 shares in the last quarter. Eudaimonia Partners LLC bought a new stake in Carrier Global during the third quarter valued at about $212,000. Mn Services Vermogensbeheer B.V. grew its position in shares of Carrier Global by 2.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 408,400 shares of the company’s stock valued at $22,544,000 after purchasing an additional 10,700 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Carrier Global in the third quarter valued at about $219,000. Finally, Northstar Asset Management LLC acquired a new position in shares of Carrier Global during the 3rd quarter worth about $210,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CARR. Wells Fargo & Company upped their target price on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Barclays raised their target price on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Robert W. Baird upped their price target on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen lifted their price objective on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Oppenheimer upped their target price on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.71.

Carrier Global Price Performance

Shares of Carrier Global stock traded up $1.15 during midday trading on Friday, reaching $62.09. The company had a trading volume of 3,622,875 shares, compared to its average volume of 4,988,253. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The stock has a fifty day simple moving average of $57.32 and a 200 day simple moving average of $55.09. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $63.79. The company has a market capitalization of $55.94 billion, a price-to-earnings ratio of 43.42, a price-to-earnings-growth ratio of 2.56 and a beta of 1.34.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. As a group, equities research analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. Carrier Global’s payout ratio is presently 53.15%.

Insider Activity

In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of the business’s 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 sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 541,005 shares of company stock valued at $30,536,214. 6.95% of the stock is currently owned by insiders.

About Carrier Global

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.