Sunbelt Securities Inc. Raises Holdings in Carrier Global Co. (NYSE:CARR)

Sunbelt Securities Inc. increased its position in Carrier Global Co. (NYSE:CARR) by 2.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 8,033 shares of the company’s stock after purchasing an additional 182 shares during the period. Sunbelt Securities Inc.’s holdings in Carrier Global were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. boosted its position in shares of Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global in the fourth quarter worth $25,000. EdgeRock Capital LLC purchased a new stake in Carrier Global during the fourth quarter valued at $27,000. VisionPoint Advisory Group LLC bought a new position in Carrier Global during the third quarter valued at $30,000. Finally, Criterion Capital Advisors LLC purchased a new position in shares of Carrier Global in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of analyst reports. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $74.00 in a report on Monday. TD Cowen raised their price objective on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Oppenheimer lifted their target price on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Barclays lifted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.64.

Carrier Global Stock Down 1.7 %

Shares of CARR opened at $62.86 on Thursday. The firm has a fifty day moving average price of $62.62 and a 200-day moving average price of $58.58. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $56.64 billion, a P/E ratio of 43.96, a P/E/G ratio of 2.58 and a beta of 1.33. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $66.50.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Equities research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.21%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock worth $16,650,050 in the last ninety days. 6.95% of the stock is owned by company insiders.

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.