PFG Investments LLC Buys 4,086 Shares of Carrier Global Co. (NYSE:CARR)

PFG Investments LLC grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 100.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,138 shares of the company’s stock after buying an additional 4,086 shares during the period. PFG Investments LLC’s holdings in Carrier Global were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARR. Valeo Financial Advisors LLC lifted its holdings in shares of Carrier Global by 5.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the company’s stock valued at $584,000 after purchasing an additional 584 shares in the last quarter. PDS Planning Inc bought a new position in shares of Carrier Global during the 3rd quarter valued at about $205,000. ST Germain D J Co. Inc. lifted its holdings in shares of Carrier Global by 9.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 6,355 shares of the company’s stock valued at $351,000 after purchasing an additional 570 shares in the last quarter. Sheets Smith Wealth Management bought a new position in shares of Carrier Global during the 3rd quarter valued at about $209,000. Finally, Mission Wealth Management LP bought a new position in shares of Carrier Global during the 3rd quarter valued at about $326,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR traded down $1.22 during trading on Tuesday, hitting $61.49. The stock had a trading volume of 8,035,791 shares, compared to its average volume of 4,908,290. The company has a 50 day moving average price of $56.88 and a 200-day moving average price of $54.94. The firm has a market cap of $55.40 billion, a price-to-earnings ratio of 43.00, a P/E/G ratio of 2.53 and a beta of 1.39. Carrier Global Co. has a one year low of $40.28 and a one year high of $63.79. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. As a group, research analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.24%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Activity at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CARR has been the topic of a number of recent research reports. Oppenheimer lifted their target price on Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank of Canada dropped their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Citigroup lifted their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. TD Cowen lifted their target price on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.62.

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.