Bessemer Group Inc. Purchases 3,900 Shares of Carrier Global Corporation (NYSE:CARR)

Bessemer Group Inc. boosted its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 15.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,768 shares of the company's stock after buying an additional 3,900 shares during the quarter. Bessemer Group Inc.'s holdings in Carrier Global were worth $1,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC raised its holdings in Carrier Global by 1.6% during the 1st quarter. Daymark Wealth Partners LLC now owns 63,232 shares of the company's stock valued at $4,009,000 after buying an additional 971 shares during the last quarter. Steph & Co. raised its holdings in Carrier Global by 8.6% during the 1st quarter. Steph & Co. now owns 2,739 shares of the company's stock valued at $174,000 after buying an additional 216 shares during the last quarter. Horizon Bancorp Inc. IN bought a new position in Carrier Global in the 1st quarter worth $106,000. International Assets Investment Management LLC raised its holdings in Carrier Global by 2.0% in the 1st quarter. International Assets Investment Management LLC now owns 9,438 shares of the company's stock worth $598,000 after purchasing an additional 181 shares in the last quarter. Finally, Cornerstone Wealth Group LLC raised its holdings in Carrier Global by 57.4% in the 1st quarter. Cornerstone Wealth Group LLC now owns 5,283 shares of the company's stock worth $335,000 after purchasing an additional 1,926 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CARR has been the subject of several research reports. Mizuho set a $72.00 price objective on shares of Carrier Global in a report on Tuesday, April 22nd. Melius initiated coverage on shares of Carrier Global in a report on Tuesday. They issued a "hold" rating and a $90.00 price objective for the company. Northcoast Research upgraded shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a report on Friday, May 9th. Royal Bank Of Canada upped 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, Citigroup decreased their price objective on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 14th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global has an average rating of "Moderate Buy" and an average target price of $83.82.

Insider Activity

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company's 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 owned 54,341,534 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 7.20% of the company's stock.

Carrier Global Stock Up 1.5%

NYSE CARR traded up $1.13 during trading hours on Tuesday, reaching $74.32. 5,148,106 shares of the company's stock traded hands, compared to its average volume of 4,675,409. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The firm has a market cap of $63.72 billion, a PE ratio of 11.50, a PEG ratio of 2.05 and a beta of 1.31. The firm has a 50-day simple moving average of $70.24 and a 200 day simple moving average of $67.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 25.45% and a return on equity of 18.10%. Carrier Global's revenue was down 3.7% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. Sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be paid a $0.225 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 annualized dividend and a dividend yield of 1.21%. Carrier Global's dividend payout ratio is presently 13.93%.

Carrier Global 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.