Aberdeen Group plc Has $44.85 Million Holdings in Carrier Global Corporation (NYSE:CARR)

Aberdeen Group plc increased its stake in shares of Carrier Global Corporation (NYSE:CARR) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 717,658 shares of the company’s stock after buying an additional 12,346 shares during the quarter. Aberdeen Group plc owned 0.08% of Carrier Global worth $44,854,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC raised its position 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 purchasing an additional 474 shares during the last quarter. Bessemer Group Inc. raised its position 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 purchasing an additional 3,900 shares during the last quarter. Ensign Peak Advisors Inc raised its position 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 purchasing an additional 285,803 shares during the last quarter. Sowell Financial Services LLC bought a new position in Carrier Global in the 1st quarter valued at $234,000. Finally, Ritholtz Wealth Management raised its position in shares of Carrier Global by 34.0% during the first quarter. Ritholtz Wealth Management now owns 3,968 shares of the company’s stock worth $252,000 after acquiring an additional 1,007 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the sale, the director directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CARR. Mizuho set a $72.00 target price on Carrier Global in a research report on Tuesday, April 22nd. Citigroup reaffirmed a “buy” rating and set a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. Robert W. Baird decreased their price objective on Carrier Global from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada decreased their price objective on Carrier Global from $89.00 to $87.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $84.47.

Carrier Global Stock Down 0.5%

NYSE:CARR opened at $65.44 on Friday. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a current ratio of 1.17, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a market cap of $55.69 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.81 and a beta of 1.25. The stock has a 50-day moving average price of $72.32 and a two-hundred day moving average price of $68.11.

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

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, July 21st. Carrier Global’s payout ratio is 19.61%.

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.