AlphaQuest LLC Grows Stock Holdings in Carrier Global Corporation $CARR

AlphaQuest LLC boosted its position in Carrier Global Corporation (NYSE:CARR) by 385.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,964 shares of the company’s stock after acquiring an additional 7,117 shares during the period. AlphaQuest LLC’s holdings in Carrier Global were worth $656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC grew its stake in shares of Carrier Global by 4.2% during the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock valued at $231,000 after buying an additional 127 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock valued at $884,000 after buying an additional 150 shares during the period. Penobscot Investment Management Company Inc. grew its stake in shares of Carrier Global by 0.7% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after buying an additional 155 shares during the period. Lindbrook Capital LLC grew its stake in shares of Carrier Global by 1.3% during the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after buying an additional 156 shares during the period. Finally, Code Waechter LLC grew its stake in shares of Carrier Global by 5.1% during the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock valued at $214,000 after buying an additional 164 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

CARR opened at $58.23 on Tuesday. The company has a 50-day moving average of $61.13 and a 200-day moving average of $66.99. The company has a market capitalization of $49.55 billion, a P/E ratio of 12.69, a PEG ratio of 1.90 and a beta of 1.25. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

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

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Carrier Global’s payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CARR. Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a research note on Wednesday, October 8th. Zacks Research cut shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. reduced their target price on shares of Carrier Global from $76.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $73.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, September 23rd. Finally, Morgan Stanley reduced their target price on shares of Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.41.

Carrier Global Company 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.