Argent Trust Co raised its stake in Carrier Global Co. (NYSE:CARR – Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,991 shares of the company’s stock after buying an additional 890 shares during the period. Argent Trust Co’s holdings in Carrier Global were worth $2,150,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Covestor Ltd grew its position in Carrier Global by 121.2% during the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 303 shares in the last quarter. WealthPLAN Partners LLC purchased a new position in Carrier Global during the 1st quarter worth approximately $29,000. Tradition Wealth Management LLC grew its position in Carrier Global by 124.2% during the 1st quarter. Tradition Wealth Management LLC now owns 740 shares of the company’s stock worth $34,000 after purchasing an additional 410 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Carrier Global by 95.2% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 779 shares of the company’s stock worth $36,000 after purchasing an additional 380 shares in the last quarter. Finally, Portland Hill Asset Management Ltd purchased a new position in Carrier Global during the 4th quarter worth approximately $37,000. Institutional investors own 91.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on CARR shares. Mizuho lifted their price objective on shares of Carrier Global from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Argus lifted their price objective on shares of Carrier Global from $52.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $45.00 to $50.00 in a research report on Monday, July 10th. Morgan Stanley boosted their price target on shares of Carrier Global from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Finally, TD Cowen boosted their price target on shares of Carrier Global from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.65.
Carrier Global Stock Performance
Carrier Global stock traded up $0.45 on Wednesday, reaching $56.87. 605,633 shares of the stock were exchanged, compared to its average volume of 5,086,235. The stock has a market cap of $47.64 billion, a PE ratio of 22.40, a PEG ratio of 2.27 and a beta of 1.42. The company has a current ratio of 1.63, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. Carrier Global Co. has a twelve month low of $33.10 and a twelve month high of $60.04. The firm has a fifty day moving average price of $54.63 and a two-hundred day moving average price of $47.86.
Carrier Global (NYSE:CARR – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.83 billion. Carrier Global had a net margin of 9.87% and a return on equity of 25.42%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. Sell-side analysts anticipate that Carrier Global Co. will post 2.62 EPS for the current year.
Carrier Global Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Friday, June 23rd were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, June 22nd. Carrier Global’s dividend payout ratio is 29.37%.
In other news, insider Jurgen Timperman sold 164,450 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.25, for a total transaction of $9,743,662.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Carrier Global news, VP Kyle Crockett sold 6,817 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.22, for a total transaction of $403,702.74. Following the completion of the transaction, the vice president now owns 42 shares in the company, valued at $2,487.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jurgen Timperman sold 164,450 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $9,743,662.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 310,223 shares of company stock valued at $16,401,775. Insiders own 0.38% of the company’s stock.
Carrier Global Company Profile
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.
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