Carrier Global Corporation (NYSE:CARR) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Carrier Global Corporation by 11.6%, owning a total of 634,487 shares valued at approximately $40.2 million.
• The company reported $0.92 EPS for the last quarter, surpassing the expected $0.90 EPS, with revenue reaching $6.11 billion.
• Carrier Global has declared a quarterly dividend of $0.225 per share, with a dividend yield of 1.3% and a payout ratio of 19.61%.

LPL Financial LLC increased its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 634,487 shares of the company's stock after purchasing an additional 66,005 shares during the period. LPL Financial LLC owned approximately 0.07% of Carrier Global worth $40,226,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CARR. Brown Advisory Inc. increased its position in Carrier Global by 82.6% during the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after acquiring an additional 4,377,402 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Carrier Global by 40.3% during the fourth quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock valued at $345,201,000 after purchasing an additional 1,453,247 shares during the period. Northern Trust Corp boosted its stake in shares of Carrier Global by 16.7% during the fourth 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 during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Carrier Global by 2,484.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,122,545 shares of the company's stock valued at $76,625,000 after purchasing an additional 1,079,103 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Carrier Global by 7,043.4% during the first quarter. GAMMA Investing LLC now owns 1,058,653 shares of the company's stock valued at $67,119,000 after purchasing an additional 1,043,833 shares during the period. Institutional investors own 91.00% of the company's stock.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents 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. Company insiders own 7.20% of the company's stock.

Carrier Global Stock Down 0.6%

Carrier Global stock traded down $0.38 during trading hours on Wednesday, reaching $66.00. The stock had a trading volume of 1,695,108 shares, compared to its average volume of 5,333,203. Carrier Global Corporation has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The company has a market cap of $56.16 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.83 and a beta of 1.25. The business's 50 day moving average price is $73.14 and its 200-day moving average price is $68.28.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.08 billion. Sell-side analysts anticipate that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, July 21st will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is 19.61%.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent analyst reports. Citigroup reissued a "buy" rating and set a $89.00 target price (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Robert W. Baird lowered their target price on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Melius began coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.47.

Carrier Global 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.