TCW Group Inc. Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

TCW Group Inc. raised its holdings in Carrier Global Co. (NYSE:CARR) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,762 shares of the company’s stock after purchasing an additional 219 shares during the quarter. TCW Group Inc.’s holdings in Carrier Global were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Founders Capital Management LLC lifted its stake in Carrier Global by 3.4% in the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after purchasing an additional 175 shares during the last quarter. Manchester Capital Management LLC lifted its position in shares of Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after buying an additional 180 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after acquiring an additional 182 shares during the period. Sovereign Financial Group Inc. increased its holdings in Carrier Global by 4.7% in the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after acquiring an additional 188 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in Carrier Global by 2.3% during the first quarter. Checchi Capital Advisers LLC now owns 8,900 shares of the company’s stock valued at $517,000 after purchasing an additional 197 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research reports. Barclays increased their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Bank of America upgraded Carrier Global from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $72.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average target price of $67.08.

Insider Activity

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Carrier Global Trading Down 1.5 %

NYSE CARR opened at $67.38 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $65.02 and its two-hundred day simple moving average is $60.97. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $70.09. The company has a market capitalization of $60.71 billion, a price-to-earnings ratio of 47.12, a PEG ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were given a $0.19 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.13%. Carrier Global’s payout ratio is currently 53.15%.

Carrier Global 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.