Bridgewater Advisors Inc. Takes Position in Carrier Global Corporation (NYSE:CARR)

Bridgewater Advisors Inc. bought a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,357 shares of the company's stock, valued at approximately $326,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Carrier Global by 90.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Carrier Global in the fourth quarter worth approximately $28,000. Investment Research & Advisory Group Inc. acquired a new stake in shares of Carrier Global during the 1st quarter valued at $29,000. Mattson Financial Services LLC acquired a new stake in shares of Carrier Global during the 4th quarter valued at $31,000. Finally, Meeder Asset Management Inc. lifted its position 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 valued at $33,000 after acquiring an additional 340 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction 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 corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays upped their price target on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada increased their target price on shares of Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Robert W. Baird decreased their price target on shares of Carrier Global from $88.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday. Wells Fargo & Company increased their target price on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, Melius Research upgraded shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $84.65.

Carrier Global Price Performance

Shares of Carrier Global stock traded up $1.49 during midday trading on Thursday, reaching $76.92. The company had a trading volume of 2,778,030 shares, compared to its average volume of 4,678,462. The stock has a fifty day simple moving average of $72.88 and a 200 day simple moving average of $67.75. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The company has a market capitalization of $65.95 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last issued its 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. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The company had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.17 billion. During the same period in the prior year, the firm earned $0.51 EPS. Carrier Global's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Monday, July 21st. Carrier Global's payout ratio is 13.93%.

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.