Avantax Advisory Services Inc. Reduces Stake in Carrier Global Corporation (NYSE:CARR)

Avantax Advisory Services Inc. lowered its stake in Carrier Global Corporation (NYSE:CARR) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,387 shares of the company’s stock after selling 10,793 shares during the period. Avantax Advisory Services Inc.’s holdings in Carrier Global were worth $5,097,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARR. Brighton Jones LLC grew its position in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after acquiring an additional 1,850 shares in the last quarter. American Century Companies Inc. grew its position in Carrier Global by 1.0% in the fourth quarter. American Century Companies Inc. now owns 93,610 shares of the company’s stock worth $6,390,000 after acquiring an additional 923 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in Carrier Global in the fourth quarter worth about $54,000. Nomura Asset Management Co. Ltd. grew its position in Carrier Global by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 239,956 shares of the company’s stock worth $16,379,000 after acquiring an additional 968 shares in the last quarter. Finally, Level Four Advisory Services LLC grew its position in Carrier Global by 13.1% in the fourth quarter. Level Four Advisory Services LLC now owns 4,853 shares of the company’s stock worth $331,000 after acquiring an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CARR shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $79.00 target price on shares of Carrier Global in a research report on Tuesday, July 15th. Robert W. Baird dropped their target price on Carrier Global from $88.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Mizuho set a $72.00 target price on Carrier Global in a research report on Tuesday, April 22nd. Finally, Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $84.65.

Insider Buying and Selling

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 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. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.20% of the stock is owned by company insiders.

Carrier Global Stock Performance

Carrier Global stock opened at $80.72 on Monday. The company has a 50 day moving average price of $73.54 and a 200-day moving average price of $68.21. 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 Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a market capitalization of $69.21 billion, a PE ratio of 12.50, a P/E/G ratio of 2.20 and a beta of 1.31.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating 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 firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. As a group, equities analysts forecast that Carrier Global Corporation will post 2.99 earnings per share 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 paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global’s dividend payout ratio (DPR) is 13.93%.

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.