Naples Global Advisors LLC Acquires 1,680 Shares of Carrier Global Co. (NYSE:CARR)

Naples Global Advisors LLC increased its stake in Carrier Global Co. (NYSE:CARR) by 26.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,065 shares of the company’s stock after purchasing an additional 1,680 shares during the period. Naples Global Advisors LLC’s holdings in Carrier Global were worth $511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after purchasing an additional 1,850 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Carrier Global by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,179 shares of the company’s stock valued at $5,856,000 after acquiring an additional 17,861 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Carrier Global by 11.4% in the 4th quarter. Bleakley Financial Group LLC now owns 52,372 shares of the company’s stock valued at $3,575,000 after acquiring an additional 5,368 shares during the last quarter. Tandem Financial LLC purchased a new stake in Carrier Global during the 4th quarter valued at about $852,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Carrier Global by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,879,036 shares of the company’s stock worth $128,263,000 after acquiring an additional 16,993 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global 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 transaction, the director now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CARR shares. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, February 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Royal Bank of Canada raised their price target on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Wells Fargo & Company boosted their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Finally, Barclays upped their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and an average price target of $83.00.

Carrier Global Stock Down 0.4%

NYSE:CARR opened at $71.09 on Friday. Carrier Global Co. has a twelve month low of $54.22 and a twelve month high of $83.32. The company has a market cap of $60.95 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The stock has a fifty day simple moving average of $66.27 and a 200-day simple moving average of $67.70. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.90 annualized dividend and a yield of 1.27%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

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.