Golden State Wealth Management LLC Buys 474 Shares of Carrier Global Corporation (NYSE:CARR)

Golden State Wealth Management LLC raised its stake in shares of Carrier Global Corporation (NYSE:CARR) by 51.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,389 shares of the company’s stock after purchasing an additional 474 shares during the quarter. Golden State Wealth Management LLC’s holdings in Carrier Global were worth $88,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crescent Grove Advisors LLC increased its stake in Carrier Global by 40.0% in the first quarter. Crescent Grove Advisors LLC now owns 104,643 shares of the company’s stock valued at $6,634,000 after acquiring an additional 29,872 shares during the period. BSW Wealth Partners increased its stake in Carrier Global by 45.2% in the first quarter. BSW Wealth Partners now owns 8,122 shares of the company’s stock valued at $515,000 after acquiring an additional 2,527 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Carrier Global by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 95,839 shares of the company’s stock valued at $6,069,000 after acquiring an additional 10,660 shares during the period. Transcend Capital Advisors LLC boosted its position in Carrier Global by 13.4% in the first quarter. Transcend Capital Advisors LLC now owns 7,341 shares of the company’s stock valued at $465,000 after buying an additional 866 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Carrier Global by 9.6% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 8,094 shares of the company’s stock valued at $474,000 after buying an additional 708 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 0.0%

Shares of NYSE CARR opened at $75.29 on Monday. The company’s 50 day simple moving average is $71.47 and its 200 day simple moving average is $67.36. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The firm has a market capitalization of $64.55 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.09 and a beta of 1.31. 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 (NYSE:CARR) last announced 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. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the business posted $0.51 earnings per share. Carrier Global’s revenue was down 3.7% compared to the same quarter last year. On average, analysts predict 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. Stockholders of record on Monday, July 21st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, July 21st. Carrier Global’s dividend payout ratio is 13.93%.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the sale, the director owned 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CARR has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Friday, May 9th. Citigroup reduced their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Melius Research upgraded shares of Carrier Global to a “hold” rating and set a $90.00 price target on the stock in a research report on Tuesday, July 1st. Finally, Melius started coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 price target on the stock. Six investment 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.82.

About Carrier Global

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.