Cary Street Partners Financial LLC Takes $3.87 Million Position in Carrier Global Co. (NYSE:CARR)

Cary Street Partners Financial LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,647 shares of the company’s stock, valued at approximately $3,867,000.

Other large investors have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. grew its position in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE grew its holdings in Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new stake in Carrier Global in the fourth quarter valued at $31,000. Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock valued at $33,000 after purchasing an additional 340 shares during the period. Finally, Transce3nd LLC bought a new position in shares of Carrier Global during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Down 1.0 %

CARR stock opened at $70.79 on Tuesday. The stock has a market cap of $61.16 billion, a P/E ratio of 11.27, a P/E/G ratio of 2.01 and a beta of 1.33. The stock’s fifty day simple moving average is $63.16 and its two-hundred day simple moving average is $68.13. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a 1-year low of $54.22 and a 1-year high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, May 2nd. Carrier Global’s dividend payout ratio is currently 13.93%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CARR. Wells Fargo & Company upped their price target on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday. Royal Bank of Canada upped their target price on Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday. Mizuho set a $72.00 price target on shares of Carrier Global in a research report on Tuesday, April 22nd. Barclays lowered their price objective on shares of Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average target price of $81.21.

Carrier Global 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.