Carmel Capital Partners LLC Purchases 7,067 Shares of Carrier Global Corporation (NYSE:CARR)

Carmel Capital Partners LLC raised its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 43.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,374 shares of the company's stock after purchasing an additional 7,067 shares during the quarter. Carmel Capital Partners LLC's holdings in Carrier Global were worth $1,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in 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 purchasing an additional 1,850 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Carrier Global by 62.6% during the fourth quarter. Proficio Capital Partners LLC now owns 7,198 shares of the company's stock worth $491,000 after purchasing an additional 2,770 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Carrier Global by 782.7% during the fourth quarter. Teacher Retirement System of Texas now owns 47,923 shares of the company's stock worth $3,271,000 after purchasing an additional 42,494 shares during the period. Blueshift Asset Management LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth about $241,000. Finally, TD Private Client Wealth LLC lifted its holdings in Carrier Global by 57.7% in the fourth quarter. TD Private Client Wealth LLC now owns 13,554 shares of the company's stock valued at $925,000 after acquiring an additional 4,958 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction dated Thursday, June 5th. The stock was 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 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 SEC, which is accessible through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research report on Wednesday, May 21st. Royal Bank Of Canada upped their target price on Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Wells Fargo & Company upped their target price on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a report on Friday, May 9th. Seven 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 a consensus rating of "Moderate Buy" and an average price target of $84.65.

Carrier Global Price Performance

NYSE CARR traded down $0.25 on Friday, reaching $76.68. 5,031,716 shares of the stock traded hands, compared to its average volume of 4,690,216. The firm's fifty day simple moving average is $73.11 and its 200 day simple moving average is $67.87. 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 company has a market cap of $65.74 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 2.09 and a beta of 1.31. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter last year, the firm posted $0.51 earnings per share. Carrier Global's revenue was down 3.7% compared to the same quarter last year. As a group, research analysts predict that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

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