Carrier Global Corporation (NYSE:CARR) Position Lifted by IFP Advisors Inc

IFP Advisors Inc raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 9.9% during the first quarter, HoldingsChannel reports. The fund owned 106,213 shares of the company’s stock after acquiring an additional 9,594 shares during the quarter. IFP Advisors Inc’s holdings in Carrier Global were worth $6,736,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CARR. 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. Investment Research & Advisory Group Inc. acquired a new stake in shares of Carrier Global during the first quarter worth $29,000. Finally, Meeder Asset Management Inc. grew its position in shares of Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company’s stock worth $33,000 after acquiring an additional 340 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent analyst reports. Melius initiated coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price for the company. Citigroup reiterated a “buy” rating and issued a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Melius Research upgraded shares of Carrier Global to a “hold” rating and set a $90.00 target price for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Finally, Robert W. Baird reduced their price objective on shares of Carrier Global from $88.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.65.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the 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 owned 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Carrier Global Trading Down 0.3%

Shares of Carrier Global stock opened at $76.68 on Friday. The firm has a 50-day moving average of $73.11 and a 200-day moving average of $67.87. The stock has a market cap of $65.74 billion, a PE ratio of 11.87, a PEG ratio of 2.09 and a beta of 1.31. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. 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 posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business 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%. Carrier Global’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, sell-side analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

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.