Professional Advisory Services Inc. Grows Stake in Carrier Global Co. (NYSE:CARR)

Professional Advisory Services Inc. boosted its position in Carrier Global Co. (NYSE:CARR) by 8.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,273 shares of the company’s stock after purchasing an additional 24,646 shares during the period. Carrier Global comprises 2.8% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 19th biggest position. Professional Advisory Services Inc.’s holdings in Carrier Global were worth $20,305,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. increased its position in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after buying an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Carrier Global during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global during the fourth quarter worth $31,000. Finally, Mattson Financial Services LLC purchased a new position in Carrier Global during the fourth quarter worth $31,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their target price on Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Monday, February 24th. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Friday, May 9th. Finally, Citigroup reduced their target price on Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Carrier Global Stock Performance

Carrier Global stock opened at $71.09 on Friday. The stock’s 50-day moving average is $66.27 and its 200-day moving average is $67.65. The company has a market cap of $60.95 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global Co. has a 12 month low of $54.22 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Equities analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a $0.225 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. Carrier Global’s dividend payout ratio (DPR) is 13.93%.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director now directly owns 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.20% of the company’s stock.

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.