Carrier Global Corporation $CARR Shares Bought by Pavion Blue Capital LLC

Pavion Blue Capital LLC raised its position in shares of Carrier Global Corporation (NYSE:CARR) by 805.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,222 shares of the company’s stock after acquiring an additional 34,003 shares during the period. Pavion Blue Capital LLC’s holdings in Carrier Global were worth $2,097,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CARR. Joel Isaacson & Co. LLC grew its holdings in Carrier Global by 114.7% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 12,624 shares of the company’s stock valued at $693,000 after purchasing an additional 6,743 shares during the last quarter. Silver Grove Financial Group Inc. raised its position in Carrier Global by 33.2% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,156 shares of the company’s stock worth $63,000 after purchasing an additional 288 shares during the period. Letson Investment Management Inc. raised its position in Carrier Global by 14.2% in the 3rd quarter. Letson Investment Management Inc. now owns 94,425 shares of the company’s stock worth $5,180,000 after purchasing an additional 11,767 shares during the period. Confluence Wealth Services Inc. lifted its stake in Carrier Global by 61.4% in the third quarter. Confluence Wealth Services Inc. now owns 9,372 shares of the company’s stock worth $514,000 after purchasing an additional 3,567 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its stake in Carrier Global by 64.8% in the third quarter. Mesirow Financial Investment Management Inc. now owns 22,507 shares of the company’s stock worth $1,235,000 after purchasing an additional 8,852 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $54.48 on Thursday. The firm’s 50 day simple moving average is $55.61 and its 200-day simple moving average is $61.62. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.68 and a current ratio of 1.00. Carrier Global Corporation has a one year low of $50.24 and a one year high of $76.76. The firm has a market cap of $44.57 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. Carrier Global’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Carrier Global Corporation will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, October 29th. Carrier Global’s dividend payout ratio is currently -43.24%.

Analysts Set New Price Targets

Several research analysts have issued reports on CARR shares. JPMorgan Chase & Co. dropped their target price on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, October 30th. Citigroup reduced their price target on Carrier Global from $80.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, October 30th. The Goldman Sachs Group lowered Carrier Global from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $74.00 to $61.00 in a research note on Wednesday, October 14th. Deutsche Bank decreased their price target on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Finally, Sanford C. Bernstein dropped their price objective on Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a report on Wednesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.27.

Carrier Global Company Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage. The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.