Carrier Global Corporation $CARR Holdings Lifted by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Carrier Global stake by 24.3% in the third quarter, adding 40,612 shares to hold 207,980 shares valued at about $11.4 million. Institutional investors collectively own 91% of the company’s stock.
• Carrier beat quarterly expectations, reporting EPS of $0.87 versus $0.76 expected and revenue of $6.26 billion, up 12.3% year over year.
• Analyst views are mixed but lean positive: the consensus rating is “Moderate Buy” with a $69.27 average price target, though several firms recently lowered their targets.

Kestra Advisory Services LLC increased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 24.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,980 shares of the company's stock after purchasing an additional 40,612 shares during the quarter. Kestra Advisory Services LLC's holdings in Carrier Global were worth $11,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in Carrier Global in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in Carrier Global during the 2nd quarter valued at approximately $26,000. Financial Management Professionals Inc. lifted its stake in Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock valued at $28,000 after acquiring an additional 225 shares during the period. Burnham & Co LLC purchased a new stake in shares of Carrier Global in the 2nd quarter valued at $37,000. Finally, Latitude Advisors LLC purchased a new stake in shares of Carrier Global in the 3rd quarter valued at $27,000. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CARR. Weiss Ratings cut shares of Carrier Global from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a report on Wednesday, September 30th. Mizuho cut their price target on Carrier Global from $75.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. Wells Fargo & Company cut their price target on Carrier Global from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, October 30th. Finally, Royal Bank Of Canada reduced their price objective on Carrier Global from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Friday, October 30th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.27.

Carrier Global Trading Up 1.9%

Shares of CARR stock opened at $53.38 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.68. The company has a market cap of $43.68 billion, a price-to-earnings ratio of -24.05, a PEG ratio of 2.03 and a beta of 1.33. The stock has a 50 day simple moving average of $55.77 and a 200-day simple moving average of $61.65. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The business's revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. On average, equities research analysts expect that Carrier Global Corporation will post 2.86 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Thursday, October 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 29th. Carrier Global's dividend payout ratio (DPR) is presently -43.24%.

Carrier Global Company Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage.

The company's offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.

Carrier traces its origins to 1915, when Willis Carrier founded the company that pioneered modern air conditioning.

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