Investment Research & Advisory Group Inc. Takes Position in Carrier Global Corporation (NYSE:CARR)

Investment Research & Advisory Group Inc. bought a new stake in Carrier Global Corporation (NYSE:CARR) during the first quarter, HoldingsChannel.com reports. The fund bought 451 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds have also recently added to or reduced their stakes in CARR. Syon Capital LLC grew its stake in shares of Carrier Global by 2.2% in the 4th quarter. Syon Capital LLC now owns 7,089 shares of the company’s stock valued at $484,000 after purchasing an additional 155 shares during the period. BOK Financial Private Wealth Inc. boosted its stake in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after buying an additional 160 shares in the last quarter. Wealthspire Advisors LLC grew its position in Carrier Global by 3.7% in the fourth quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company’s stock valued at $305,000 after acquiring an additional 161 shares during the period. Lake Street Advisors Group LLC raised its stake in Carrier Global by 0.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company’s stock worth $1,378,000 after acquiring an additional 169 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its holdings in shares of Carrier Global by 1.9% during the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company’s stock valued at $623,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Up 0.0%

NYSE:CARR opened at $69.80 on Friday. The company has a market cap of $59.84 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. The stock’s fifty day moving average price is $68.45 and its two-hundred day moving average price is $67.35. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be given a dividend of $0.225 per share. The ex-dividend date is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.29%. Carrier Global’s payout ratio is presently 13.93%.

Insider Activity

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 shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the sale, the director now directly owns 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CARR shares. 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 report on Friday, May 9th. Royal Bank Of Canada upped their price objective 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. Robert W. Baird raised 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. Barclays boosted their target price on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company raised their price target on Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Four research 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

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.