Diversify Advisory Services LLC Makes New $383,000 Investment in Carrier Global Co. (NYSE:CARR)

Diversify Advisory Services LLC purchased a new position in Carrier Global Co. (NYSE:CARRFree Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,670 shares of the company’s stock, valued at approximately $383,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $444,487,000. Capital Research Global Investors raised its holdings in shares of Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after acquiring an additional 2,961,923 shares in the last quarter. Bristol Gate Capital Partners Inc. purchased a new stake in shares of Carrier Global during the 4th quarter worth approximately $92,651,000. Impax Asset Management Group plc raised its holdings in Carrier Global by 47.8% during the 4th quarter. Impax Asset Management Group plc now owns 3,306,877 shares of the company’s stock valued at $189,980,000 after buying an additional 1,070,036 shares during the period. Finally, PineStone Asset Management Inc. raised its holdings in Carrier Global by 21.6% during the 4th quarter. PineStone Asset Management Inc. now owns 4,752,550 shares of the company’s stock valued at $273,034,000 after buying an additional 845,622 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

CARR opened at $63.24 on Friday. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $66.50. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The business’s fifty day simple moving average is $63.80 and its 200-day simple moving average is $58.92. The company has a market capitalization of $56.98 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 2.46 and a beta of 1.32.

Carrier Global (NYSE:CARRGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. On average, equities research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Insider Transactions at Carrier Global

In related news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the sale, the vice president now owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,954 shares of company stock valued at $16,650,050. 6.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent research reports. TD Cowen increased their price target on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Robert W. Baird increased their price target on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Wells Fargo & Company increased their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Oppenheimer increased their price target on Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.14.

Check Out Our Latest Research Report on CARR

About Carrier Global

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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