Farther Finance Advisors LLC Raises Position in Carrier Global Co. (NYSE:CARR)

Farther Finance Advisors LLC increased its stake in Carrier Global Co. (NYSE:CARR) by 36.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,664 shares of the company’s stock after purchasing an additional 2,570 shares during the quarter. Farther Finance Advisors LLC’s holdings in Carrier Global were worth $614,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Syon Capital LLC boosted its holdings in Carrier Global by 2.2% in the 4th quarter. Syon Capital LLC now owns 7,089 shares of the company’s stock worth $484,000 after buying an additional 155 shares during the period. BOK Financial Private Wealth Inc. lifted its position in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after acquiring an additional 160 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Carrier Global by 3.7% in the fourth quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company’s stock worth $305,000 after acquiring an additional 161 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Carrier Global by 0.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company’s stock valued at $1,378,000 after purchasing an additional 169 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its position in shares of Carrier Global by 1.9% in the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company’s stock valued at $623,000 after purchasing an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Mizuho set a $72.00 price objective on shares of Carrier Global in a research report on Tuesday, April 22nd. Citigroup decreased their target price on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada raised their price target on shares of Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Finally, Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director now directly owns 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.20% of the company’s stock.

Carrier Global Stock Down 1.8%

Shares of NYSE:CARR opened at $71.17 on Friday. The firm has a market capitalization of $61.01 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The firm has a fifty day moving average of $67.57 and a 200 day moving average of $67.47.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. As a group, research analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, July 21st. 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.