Carrier Global Co. (NYSE:CARR) Shares Bought by Selway Asset Management

Selway Asset Management grew its position in shares of Carrier Global Co. (NYSE:CARR) by 44.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,367 shares of the company’s stock after purchasing an additional 16,650 shares during the period. Carrier Global makes up about 1.4% of Selway Asset Management’s holdings, making the stock its 25th largest holding. Selway Asset Management’s holdings in Carrier Global were worth $3,447,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Carrier Global in the fourth quarter valued at $588,029,000. Wealthfront Advisers LLC raised its stake in shares of Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock valued at $341,300,000 after acquiring an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Carrier Global by 139.1% in the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock valued at $361,544,000 after acquiring an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Carrier Global in the fourth quarter valued at $166,061,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Carrier Global in the fourth quarter valued at $108,433,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

Shares of CARR stock opened at $70.32 on Tuesday. The stock’s 50-day moving average is $65.69 and its two-hundred day moving average is $67.69. The firm has a market cap of $60.29 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32. 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 (NYSE:CARR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. Analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were given a $0.225 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. Carrier Global’s payout ratio is currently 13.93%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Robert W. Baird increased their price objective on Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Monday, February 24th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Friday, May 9th. Finally, Royal Bank of Canada increased their target price on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.