Carrier Global Co. (NYSE:CARR) Shares Purchased by Avity Investment Management Inc.

Avity Investment Management Inc. lifted its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 328,815 shares of the company's stock after buying an additional 21,812 shares during the quarter. Carrier Global makes up approximately 1.7% of Avity Investment Management Inc.'s portfolio, making the stock its 29th biggest position. Avity Investment Management Inc.'s holdings in Carrier Global were worth $20,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CARR. Ensign Peak Advisors Inc lifted its stake in Carrier Global by 27.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,314,180 shares of the company's stock valued at $89,706,000 after buying an additional 285,803 shares during the last quarter. Allworth Financial LP lifted its stake in Carrier Global by 1,657.6% in the fourth quarter. Allworth Financial LP now owns 167,653 shares of the company's stock valued at $11,741,000 after buying an additional 158,114 shares during the last quarter. Principal Securities Inc. lifted its stake in Carrier Global by 128.6% in the fourth quarter. Principal Securities Inc. now owns 16,919 shares of the company's stock valued at $1,155,000 after buying an additional 9,518 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Carrier Global by 1.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 475,850 shares of the company's stock worth $32,786,000 after purchasing an additional 8,746 shares during the last quarter. Finally, Dempze Nancy E raised its stake in shares of Carrier Global by 20.5% during the fourth quarter. Dempze Nancy E now owns 37,482 shares of the company's stock worth $2,559,000 after purchasing an additional 6,372 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Carrier Global stock traded down $0.31 during midday trading on Friday, reaching $71.09. 4,754,889 shares of the company were exchanged, compared to its average volume of 4,655,952. The company has a market capitalization of $60.95 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 2.01 and a beta of 1.33. The firm's 50-day simple moving average is $66.27 and its 200-day simple moving average is $67.70. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm's revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.27%. The ex-dividend date was Friday, May 2nd. Carrier Global's dividend payout ratio (DPR) is 13.93%.

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 dated Thursday, June 5th. The stock was 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 now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CARR shares. Royal Bank of Canada upped their price target on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Wells Fargo & Company increased their price objective on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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.