Selway Asset Management Purchases 16,650 Shares of Carrier Global Co. (NYSE:CARR)

Selway Asset Management boosted its holdings in Carrier Global Co. (NYSE:CARR - Free Report) by 44.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,367 shares of the company's stock after acquiring an additional 16,650 shares during the quarter. Carrier Global accounts for approximately 1.4% of Selway Asset Management's holdings, making the stock its 25th largest position. Selway Asset Management's holdings in Carrier Global were worth $3,447,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Carrier Global during the 4th quarter valued at $588,029,000. Wealthfront Advisers LLC grew its position in Carrier Global by 5,840.1% during the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock valued at $341,300,000 after buying an additional 4,915,826 shares during the period. Brown Advisory Inc. increased its holdings in Carrier Global by 139.1% during the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock valued at $361,544,000 after buying an additional 3,080,984 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Carrier Global during the 4th quarter worth $166,061,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Carrier Global in the 4th quarter worth $108,433,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Carrier Global from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Northcoast Research upgraded 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. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on 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, The Goldman Sachs Group restated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Carrier Global Trading Up 1.0%

CARR stock traded up $0.68 during midday trading on Wednesday, reaching $71.48. 3,280,702 shares of the company traded hands, compared to its average volume of 4,635,014. The firm has a market capitalization of $61.28 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The business has a 50 day moving average of $65.80 and a 200-day moving average of $67.72. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The business's revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. As a group, sell-side analysts expect that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Friday, May 2nd were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, May 2nd. Carrier Global's payout ratio is presently 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.