Fox Run Management L.L.C. Purchases New Holdings in Carrier Global Corporation (NYSE:CARR)

Key Points

• Fox Run Management L.L.C. has acquired 23,213 shares of Carrier Global Corporation, valued at approximately $1.47 million, marking a new investment in the company.
• Multiple institutional investors, including Nuveen LLC and JPMorgan Chase & Co., have either increased or initiated stakes in Carrier Global, indicating strong interest in the stock.
• Carrier Global reported quarterly earnings of $0.92 EPS, beating estimates, along with a recent dividend yield of 1.3% for investors.

Fox Run Management L.L.C. bought a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,213 shares of the company's stock, valued at approximately $1,472,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its position in shares of Carrier Global by 51.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,389 shares of the company's stock worth $88,000 after acquiring an additional 474 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Carrier Global by 15.7% during the 1st quarter. Bessemer Group Inc. now owns 28,768 shares of the company's stock worth $1,823,000 after acquiring an additional 3,900 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Carrier Global by 27.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock worth $89,706,000 after acquiring an additional 285,803 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Carrier Global during the 1st quarter worth about $234,000. Finally, Ritholtz Wealth Management raised its position in shares of Carrier Global by 34.0% during the 1st quarter. Ritholtz Wealth Management now owns 3,968 shares of the company's stock worth $252,000 after acquiring an additional 1,007 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CARR shares. Melius Research raised Carrier Global to a "hold" rating and set a $90.00 price target on the stock in a research report on Tuesday, July 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Mizuho set a $72.00 price target on Carrier Global in a research report on Tuesday, April 22nd. Citigroup reaffirmed a "buy" rating and set a $89.00 price target (up previously from $82.00) on shares of Carrier Global in a research report on Monday, July 14th. Finally, Robert W. Baird cut their price target on Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.47.

Carrier Global Price Performance

CARR traded down $0.32 during trading on Friday, reaching $65.44. 2,968,204 shares of the stock were exchanged, compared to its average volume of 5,259,797. The business's 50 day moving average price is $72.32 and its two-hundred day moving average price is $68.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market capitalization of $55.69 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.80 and a beta of 1.25. Carrier Global Corporation has a 1 year low of $54.22 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The company had revenue of $6.11 billion during the quarter, compared to analysts' expectations of $6.08 billion. As a group, equities research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, July 21st were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Carrier Global's payout ratio is 19.61%.

Insider Buying and Selling at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director directly owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.20% of the stock is currently owned by company insiders.

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.