CapWealth Advisors LLC Acquires 5,860 Shares of Carrier Global Corporation (NYSE:CARR)

CapWealth Advisors LLC increased its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,736 shares of the company's stock after buying an additional 5,860 shares during the period. CapWealth Advisors LLC's holdings in Carrier Global were worth $6,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CARR. Brighton Jones LLC raised its position in shares of Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company's stock valued at $543,000 after buying an additional 1,850 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Carrier Global by 62.6% in the fourth quarter. Proficio Capital Partners LLC now owns 7,198 shares of the company's stock valued at $491,000 after buying an additional 2,770 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Carrier Global during the fourth quarter valued at approximately $1,957,000. Banco Santander S.A. raised its position in Carrier Global by 102.9% during the fourth quarter. Banco Santander S.A. now owns 5,436 shares of the company's stock valued at $371,000 after purchasing an additional 2,757 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in Carrier Global by 3.1% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,629 shares of the company's stock valued at $657,000 after purchasing an additional 292 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of NYSE CARR traded down $0.06 during midday trading on Friday, reaching $76.71. 3,805,081 shares of the company were exchanged, compared to its average volume of 4,694,750. The stock's 50-day moving average price is $72.55 and its 200-day moving average price is $67.62. The stock has a market cap of $65.76 billion, a P/E ratio of 11.87, a PEG ratio of 2.09 and a beta of 1.31. Carrier Global Corporation has a one year low of $54.22 and a one 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.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion for 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%. The company's revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors 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 1.17%. Carrier Global's dividend payout ratio is 13.93%.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction 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 sale, the director owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Melius assumed coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. 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 research report on Friday, May 9th. Mizuho set a $72.00 price objective on shares of Carrier Global in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada boosted their price objective on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of "Moderate Buy" and an average target price of $83.82.

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.