Federated Hermes Inc. Raises Stake in Carrier Global Co. (NYSE:CARR)

Federated Hermes Inc. increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,537 shares of the company’s stock after buying an additional 638 shares during the quarter. Federated Hermes Inc.’s holdings in Carrier Global were worth $261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its position in Carrier Global by 4.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 163,655 shares of the company’s stock worth $9,034,000 after purchasing an additional 6,600 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Carrier Global during the 3rd quarter worth about $219,000. Lindbrook Capital LLC grew its position in shares of Carrier Global by 6.7% in the 3rd quarter. Lindbrook Capital LLC now owns 11,558 shares of the company’s stock valued at $638,000 after purchasing an additional 722 shares during the period. Verdence Capital Advisors LLC increased its position in shares of Carrier Global by 5.8% in the third quarter. Verdence Capital Advisors LLC now owns 10,401 shares of the company’s stock valued at $574,000 after acquiring an additional 569 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new stake in shares of Carrier Global in the third quarter valued at approximately $35,000. Institutional investors own 91.00% of the company’s stock.

Insider Activity

In other Carrier Global 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 owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 541,005 shares of company stock valued at $30,536,214. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Trading Up 1.9 %

Shares of Carrier Global stock opened at $62.09 on Monday. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 2.61 and a beta of 1.34. The business has a 50-day moving average price of $57.32 and a 200-day moving average price of $55.14. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $63.79.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Equities research analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 53.15%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays boosted their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada cut their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Robert W. Baird increased their price objective on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Oppenheimer upped their price objective on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.71.

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.