Park Avenue Securities LLC Raises Stock Position in Carrier Global Co. (NYSE:CARR)

Park Avenue Securities LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 35.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,170 shares of the company's stock after purchasing an additional 10,750 shares during the quarter. Park Avenue Securities LLC's holdings in Carrier Global were worth $2,610,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Carrier Global by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company's stock valued at $1,181,300,000 after purchasing an additional 420,081 shares in the last quarter. Fisher Asset Management LLC increased its stake in Carrier Global by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company's stock valued at $977,028,000 after purchasing an additional 46,222 shares in the last quarter. Northern Trust Corp increased its stake in Carrier Global by 16.7% during the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock valued at $603,922,000 after purchasing an additional 1,266,137 shares in the last quarter. Norges Bank acquired a new position in Carrier Global during the 4th quarter valued at approximately $588,029,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Carrier Global by 15.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company's stock valued at $473,046,000 after purchasing an additional 936,892 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Carrier Global from $66.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Wells Fargo & Company raised their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Royal Bank of Canada upped their target price on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Citigroup dropped their price target on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Carrier Global Stock Down 1.8%

Carrier Global stock traded down $1.31 during trading on Friday, reaching $71.17. The stock had a trading volume of 3,559,102 shares, compared to its average volume of 4,686,354. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The business has a 50 day moving average price of $67.25 and a 200 day moving average price of $67.58. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The stock has a market cap of $61.01 billion, a PE ratio of 11.33, a P/E/G ratio of 2.01 and a beta of 1.33.

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, topping analysts' consensus estimates of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm's quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts predict that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.26%. Carrier Global's dividend payout ratio is currently 13.93%.

Insider Buying and Selling

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the business'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 transaction of $299,999,977.50. Following the completion of the sale, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by insiders.

About Carrier Global

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.