28,051 Carrier Global Corporation $CARR Shares Bought by Capital Management Corp VA

Key Points

• Capital Management Corp VA increased its Carrier Global position by 22.4% in the third quarter, purchasing 28,051 additional shares and bringing its holdings to 153,035 shares valued at approximately $8.4 million.
• Institutional ownership remains high at 91%, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $69.27, despite several recent target-price reductions.
• Carrier Global exceeded quarterly expectations, reporting $0.87 in EPS and $6.26 billion in revenue; revenue rose 12.3% year over year. The company also declared a quarterly dividend of $0.24 per share, implying a 1.7% annual yield.

Capital Management Corp VA increased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 22.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,035 shares of the company's stock after buying an additional 28,051 shares during the period. Capital Management Corp VA's holdings in Carrier Global were worth $8,396,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Van Hulzen Asset Management LLC acquired a new stake in shares of Carrier Global in the 2nd quarter worth $1,992,000. Robeco Institutional Asset Management B.V. raised its position in Carrier Global by 269.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 118,806 shares of the company's stock valued at $6,646,000 after purchasing an additional 86,665 shares during the period. Cardinal Capital Management Inc. lifted its stake in shares of Carrier Global by 7.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company's stock valued at $42,201,000 after purchasing an additional 37,934 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its stake in shares of Carrier Global by 3.0% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 918,219 shares of the company's stock valued at $67,351,000 after purchasing an additional 27,061 shares during the last quarter. Finally, Cohen Klingenstein LLC lifted its stake in shares of Carrier Global by 317.2% in the 3rd quarter. Cohen Klingenstein LLC now owns 190,538 shares of the company's stock valued at $10,453,000 after purchasing an additional 144,870 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BNP Paribas Exane decreased their price objective on shares of Carrier Global from $68.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday. Wells Fargo & Company cut their target price on shares of Carrier Global from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday. Mizuho dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. Zacks Research cut Carrier Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 1st. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $80.00 target price on shares of Carrier Global in a research report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Carrier Global has an average rating of "Moderate Buy" and an average target price of $69.27.

Carrier Global Trading Up 2.8%

Shares of Carrier Global stock opened at $55.14 on Tuesday. Carrier Global Corporation has a 12-month low of $50.24 and a 12-month high of $76.76. The stock has a market cap of $45.45 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.29. The company has a 50-day moving average of $56.27 and a two-hundred day moving average of $61.71. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.09 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%. Carrier Global's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. On average, research analysts anticipate that Carrier Global Corporation will post 2.87 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global's dividend payout ratio (DPR) is presently -43.24%.

Carrier Global Profile

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.

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