Concurrent Investment Advisors LLC Acquires 6,582 Shares of Carrier Global Corporation (NYSE:CARR)

Concurrent Investment Advisors LLC grew its holdings in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,021 shares of the company's stock after purchasing an additional 6,582 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Carrier Global were worth $2,157,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. BOK Financial Private Wealth Inc. lifted its position in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after buying an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Carrier Global by 90.0% during the fourth 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 during the period. Park Square Financial Group LLC purchased a new stake in Carrier Global in the fourth quarter worth $28,000. Investment Research & Advisory Group Inc. purchased a new stake in Carrier Global in the first quarter worth $29,000. Finally, Mattson Financial Services LLC purchased a new stake in Carrier Global in the fourth quarter worth $31,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CARR. Citigroup reduced their price objective on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Northcoast Research upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a report on Friday, May 9th. Robert W. Baird raised their price objective on Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Wells Fargo & Company raised their price target on 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 began coverage on Carrier Global in a research report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.82.

Carrier Global Trading Up 0.7%

CARR stock traded up $0.51 during trading on Wednesday, reaching $75.41. 580,709 shares of the stock traded hands, compared to its average volume of 4,673,443. The business's 50 day moving average price is $72.03 and its 200-day moving average price is $67.46. 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 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The firm has a market capitalization of $64.65 billion, a PE ratio of 11.68, a P/E/G ratio of 2.06 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. Carrier Global's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, sell-side analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is 13.93%.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction 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 transaction, the director directly owned 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by company insiders.

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.