Carrier Global Corporation (NYSE:CARR) Shares Purchased by Davis R M Inc.

Davis R M Inc. increased its holdings in shares of Carrier Global Corporation (NYSE:CARR) by 17.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,567 shares of the company’s stock after acquiring an additional 530 shares during the period. Davis R M Inc.’s holdings in Carrier Global were worth $226,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in Carrier Global by 51.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company’s stock valued at $88,000 after buying an additional 474 shares in the last quarter. Bessemer Group Inc. lifted its stake in Carrier Global by 15.7% in the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company’s stock valued at $1,823,000 after buying an additional 3,900 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Carrier Global by 27.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company’s stock valued at $89,706,000 after buying an additional 285,803 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Carrier Global in the 1st quarter valued at about $234,000. Finally, Ritholtz Wealth Management lifted its stake in Carrier Global by 34.0% in the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company’s stock valued at $252,000 after buying an additional 1,007 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup reissued a “buy” rating and issued a $89.00 target price (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Wells Fargo & Company raised their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Melius assumed coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price on the stock. Finally, Barclays decreased their target price on shares of Carrier Global from $84.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.47.

Carrier Global Stock Down 2.5%

Carrier Global stock opened at $66.90 on Friday. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.83 and a current ratio of 1.17. The firm has a 50 day moving average price of $73.35 and a 200 day moving average price of $68.33. The company has a market capitalization of $56.93 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, July 21st. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the sale, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.20% of the company’s stock.

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.