Carrier Global Co. (NYSE:CARR) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in Carrier Global Co. (NYSE:CARR) by 7,043.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,058,653 shares of the company’s stock after purchasing an additional 1,043,833 shares during the quarter. GAMMA Investing LLC owned about 0.12% of Carrier Global worth $67,119,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. raised its stake in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after purchasing an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in shares of Carrier Global by 90.0% during the 4th 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 last quarter. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth about $31,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Carrier Global during the 4th quarter worth about $31,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

CARR stock opened at $70.32 on Tuesday. The business has a 50 day moving average price of $65.69 and a 200 day moving average price of $67.69. The stock has a market cap of $60.29 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global Co. has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last posted its earnings results 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. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global’s dividend payout ratio is currently 13.93%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CARR. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Monday, February 24th. Barclays lifted their target price on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company boosted their price objective on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.