Carnegie Investment Counsel Purchases New Position in Carrier Global Corporation (NYSE:CARR)

Key Points

• Carnegie Investment Counsel has purchased a new stake in Carrier Global Corporation, acquiring 4,907 shares valued at approximately $299,000.
• Several institutional investors have recently increased their holdings in Carrier Global, indicating strong institutional interest, with hedge funds owning 91.00% of the stock.
• The company's dividend of $0.225 will be paid on August 8th, representing a yield of 1.11% and a dividend payout ratio of 13.93%.

Carnegie Investment Counsel purchased a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,907 shares of the company's stock, valued at approximately $299,000.

Other institutional investors also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after buying an additional 180 shares in the last quarter. Park Square Financial Group LLC bought a new position in Carrier Global in the 4th quarter valued at $28,000. Mattson Financial Services LLC bought a new position in Carrier Global in the 4th quarter valued at $31,000. Investment Research & Advisory Group Inc. bought a new position in Carrier Global in the 1st quarter valued at $29,000. Finally, Meeder Asset Management Inc. boosted its holdings in Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after purchasing an additional 340 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Citigroup reissued a "buy" rating and issued a $89.00 price target (up from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 target price on shares of Carrier Global in a research note on Tuesday, July 15th. Finally, Mizuho set a $72.00 target price on shares of Carrier Global in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.65.

Insider Buying and Selling at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction that occurred on 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 transaction, the director owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.20% of the company's stock.

Carrier Global Stock Up 1.6%

Shares of Carrier Global stock opened at $80.72 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $83.32. The company's 50 day moving average price is $73.54 and its 200-day moving average price is $68.21. The stock has a market capitalization of $69.21 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 2.20 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data 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 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 for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. Equities research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.11%. The ex-dividend date is Monday, July 21st. 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.

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