Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Increases Stock Position in Carrier Global Corporation (NYSE:CARR)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Carrier Global Corporation (NYSE:CARR) by 9.6% during the 1st quarter, HoldingsChannel reports. The fund owned 8,094 shares of the company’s stock after buying an additional 708 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Carrier Global were worth $474,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BOK Financial Private Wealth Inc. raised its holdings in shares of 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 purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of 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 purchasing an additional 180 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $28,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth $31,000. Finally, Investment Research & Advisory Group Inc. acquired a new stake in shares of Carrier Global during the first quarter worth $29,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’s stock in a transaction dated 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.20% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $73.70 on Friday. The firm has a 50-day moving average price of $69.94 and a 200 day moving average price of $67.28. The firm has a market capitalization of $63.19 billion, a PE ratio of 11.41, a P/E/G ratio of 2.04 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32.

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

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.22%. Carrier Global’s dividend payout ratio (DPR) is 13.93%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Friday, May 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Royal Bank Of Canada increased their price objective on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Four equities 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 stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

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.