Kingswood Wealth Advisors LLC Purchases 7,418 Shares of Carrier Global Corporation (NYSE:CARR)

Kingswood Wealth Advisors LLC grew its position in Carrier Global Corporation (NYSE:CARR) by 70.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,969 shares of the company’s stock after purchasing an additional 7,418 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Carrier Global were worth $1,140,000 at the end of the most recent reporting period.

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

Carrier Global Stock Up 0.0%

Shares of CARR stock opened at $69.80 on Friday. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The stock has a market cap of $59.84 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.96 and a beta of 1.33. The firm’s 50-day moving average is $68.45 and its 200-day moving average is $67.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

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

Analysts Set New Price Targets

CARR has been the subject of several recent research reports. Barclays upped their price objective on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Mizuho set a $72.00 target price on Carrier Global in a research note on Tuesday, April 22nd. Robert W. Baird upped their price target on Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Royal Bank Of Canada lifted their price objective on shares of Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company boosted their price objective 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. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.20% of the company’s stock.

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.