SKY Mountain Capital Management Inc. Invests $321,000 in Carrier Global Corporation (NYSE:CARR)

SKY Mountain Capital Management Inc. acquired a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,059 shares of the company's stock, valued at approximately $321,000. Carrier Global comprises 0.3% of SKY Mountain Capital Management Inc.'s investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of CARR. Ritter Daniher Financial Advisory LLC DE lifted its position in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after acquiring an additional 180 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Carrier Global during the 4th quarter worth about $28,000. Mattson Financial Services LLC bought a new position in shares of Carrier Global during the 4th quarter worth about $31,000. Investment Research & Advisory Group Inc. bought a new position in shares of Carrier Global during the 1st quarter worth about $29,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Carrier Global by 236.1% during the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock worth $33,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Price Performance

NYSE:CARR traded down $0.21 on Friday, reaching $76.72. The stock had a trading volume of 947,505 shares, compared to its average volume of 4,663,883. The company has a market capitalization of $65.77 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average price of $73.00 and a 200-day moving average price of $67.81.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.17%. Carrier Global's payout ratio is 13.93%.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares in the company, 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 filing with the SEC, which is available at the SEC website. Insiders own 7.20% of the company's stock.

Wall Street Analysts Forecast Growth

CARR has been the topic of several research reports. Citigroup restated a "buy" rating and set a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a report on Monday. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. JPMorgan Chase & Co. restated a "neutral" rating and set a $79.00 price objective on shares of Carrier Global in a report on Tuesday. Royal Bank Of Canada boosted their price objective on shares of Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, Barclays upped their target price on shares of Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of "Moderate Buy" and an average target price of $84.65.

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.