Trueblood Wealth Management LLC Boosts Stake in Carrier Global Co. (NYSE:CARR)

Trueblood Wealth Management LLC boosted its position in shares of Carrier Global Co. (NYSE:CARR) by 8.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,475 shares of the company’s stock after buying an additional 1,751 shares during the period. Trueblood Wealth Management LLC’s holdings in Carrier Global were worth $1,488,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ensign Peak Advisors Inc increased its holdings in shares of Carrier Global by 27.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company’s stock worth $89,706,000 after buying an additional 285,803 shares during the last quarter. Allworth Financial LP grew its position in Carrier Global by 1,657.6% in the fourth quarter. Allworth Financial LP now owns 167,653 shares of the company’s stock worth $11,741,000 after acquiring an additional 158,114 shares in the last quarter. Principal Securities Inc. increased its stake in Carrier Global by 128.6% during the fourth quarter. Principal Securities Inc. now owns 16,919 shares of the company’s stock worth $1,155,000 after acquiring an additional 9,518 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Carrier Global by 1.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company’s stock valued at $32,786,000 after purchasing an additional 8,746 shares during the period. Finally, Dempze Nancy E raised its position in Carrier Global by 20.5% during the fourth quarter. Dempze Nancy E now owns 37,482 shares of the company’s stock valued at $2,559,000 after purchasing an additional 6,372 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director now directly owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research note on Wednesday, May 21st. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. Wells Fargo & Company raised their target price 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. Finally, Citigroup dropped their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Carrier Global Trading Up 0.2%

CARR opened at $71.80 on Wednesday. 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 stock’s fifty day moving average is $66.63 and its two-hundred day moving average is $67.59. The company has a market capitalization of $61.56 billion, a P/E ratio of 11.43, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a 52 week low of $54.22 and a 52 week high of $83.32.

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 the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts forecast that Carrier Global Co. will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were paid a dividend of $0.225 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.25%. Carrier Global’s dividend payout ratio is presently 13.93%.

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.