Ritholtz Wealth Management Purchases 1,007 Shares of Carrier Global Corporation (NYSE:CARR)

Ritholtz Wealth Management grew its position in shares of Carrier Global Corporation (NYSE:CARR) by 34.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,968 shares of the company’s stock after buying an additional 1,007 shares during the quarter. Ritholtz Wealth Management’s holdings in Carrier Global were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. lifted its position in Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after purchasing an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its position in Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Carrier Global during the fourth quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Carrier Global during the fourth quarter valued at $31,000. Finally, Mattson Financial Services LLC purchased a new position in Carrier Global during the fourth quarter valued at $31,000. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays lifted their target price on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Mizuho set a $72.00 target price on Carrier Global in a research report on Tuesday, April 22nd. Robert W. Baird boosted their price objective on Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price objective on Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Finally, Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Insiders Place Their Bets

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company’s stock in a transaction that occurred on 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 owns 54,341,534 shares of the company’s stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.20% of the stock is currently owned by insiders.

Carrier Global Trading Up 0.7%

Shares of NYSE CARR opened at $70.37 on Friday. The business’s 50 day moving average is $68.68 and its two-hundred day moving average is $67.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The stock has a market capitalization of $60.33 billion, a P/E ratio of 10.89, a PEG ratio of 1.96 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, July 21st. This represents a $0.90 annualized dividend and a yield of 1.28%. Carrier Global’s payout ratio is currently 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.