NorthCrest Asset Manangement LLC Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

NorthCrest Asset Manangement LLC lowered its position in shares of Carrier Global Co. (NYSE:CARR) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,443 shares of the company’s stock after selling 4,351 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Carrier Global were worth $7,607,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CARR. BOK Financial Private Wealth Inc. raised its holdings in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in Carrier Global by 90.0% in the 4th 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 in the last quarter. Park Square Financial Group LLC bought a new position in Carrier Global in the 4th quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Carrier Global in the 4th quarter worth $31,000. Finally, Mattson Financial Services LLC bought a new position in Carrier Global in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 1.8%

NYSE:CARR opened at $72.29 on Wednesday. The firm has a market cap of $61.97 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The firm has a 50-day simple moving average of $65.40 and a two-hundred day simple moving average of $67.87.

Carrier Global (NYSE:CARR) last released its quarterly earnings data 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. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. Carrier Global’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. Analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, May 2nd. Carrier Global’s payout ratio is presently 13.93%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Wells Fargo & Company upped their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Monday, February 24th. Finally, Royal Bank of Canada increased their price target on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

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.