Miracle Mile Advisors LLC Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Miracle Mile Advisors LLC lessened its stake in shares of Carrier Global Co. (NYSE:CARR) by 10.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,132 shares of the company’s stock after selling 3,288 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Carrier Global were worth $1,847,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. boosted its stake 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 during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake 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 during the period. Park Square Financial Group LLC purchased a new position in Carrier Global during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global during the fourth quarter worth about $31,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.4%

Shares of Carrier Global stock opened at $71.09 on Monday. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The company has a 50 day moving average of $66.27 and a 200 day moving average of $67.60. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $60.95 billion, a P/E ratio of 11.32, a P/E/G ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts forecast that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd were issued a dividend of $0.225 per share. 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 1.27%. Carrier Global’s payout ratio is currently 13.93%.

Insiders Place Their Bets

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the sale, the director now owns 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CARR has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on shares of Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Citigroup reduced their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Friday, May 9th. Finally, Barclays increased their price target on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

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.