Lipe & Dalton Has $1 Million Stock Holdings in Carrier Global Corporation (NYSE:CARR)

Lipe & Dalton decreased its holdings in Carrier Global Corporation (NYSE:CARR) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,785 shares of the company’s stock after selling 3,049 shares during the quarter. Lipe & Dalton’s holdings in Carrier Global were worth $1,001,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Mandatum Life Insurance Co Ltd raised its stake in shares of Carrier Global by 59.2% in the 1st quarter. Mandatum Life Insurance Co Ltd now owns 66,715 shares of the company’s stock valued at $4,230,000 after buying an additional 24,815 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new stake in Carrier Global during the 1st quarter worth about $394,000. Forte Capital LLC ADV grew its holdings in Carrier Global by 2.3% during the 1st quarter. Forte Capital LLC ADV now owns 10,131 shares of the company’s stock worth $642,000 after acquiring an additional 227 shares during the last quarter. Forum Financial Management LP grew its holdings in Carrier Global by 16.5% during the 1st quarter. Forum Financial Management LP now owns 8,605 shares of the company’s stock worth $546,000 after acquiring an additional 1,217 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in Carrier Global by 8.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 16,945 shares of the company’s stock worth $1,074,000 after acquiring an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 7.20% of the stock is owned by corporate insiders.

Carrier Global Price Performance

CARR traded up $0.03 on Friday, hitting $76.96. 442,795 shares of the stock were exchanged, compared to its average volume of 4,661,817. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The business has a 50-day moving average of $73.00 and a two-hundred day moving average of $67.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The firm has a market capitalization of $65.98 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.06 and a beta of 1.31.

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

Carrier Global Announces Dividend

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 paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global’s payout ratio is 13.93%.

Analyst Ratings Changes

A number of equities research analysts have commented on CARR shares. 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. Citigroup reaffirmed a “buy” rating and issued a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a research note on Monday. Barclays raised their target price on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Melius Research raised shares of Carrier Global to a “hold” rating and set a $90.00 target price on the stock in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price objective on shares of Carrier Global in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.65.

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.