Elefante Mark B Increases Stock Position in Carrier Global Corporation (NYSE:CARR)

Elefante Mark B raised its position in Carrier Global Corporation (NYSE:CARR - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,065 shares of the company's stock after acquiring an additional 10,340 shares during the quarter. Carrier Global makes up approximately 2.1% of Elefante Mark B's portfolio, making the stock its 26th biggest position. Elefante Mark B's holdings in Carrier Global were worth $2,667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE raised its position in Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Carrier Global in the fourth quarter valued at approximately $28,000. Mattson Financial Services LLC purchased a new position in Carrier Global in the fourth quarter worth approximately $31,000. Investment Research & Advisory Group Inc. purchased a new position in Carrier Global in the first quarter worth approximately $29,000. Finally, Meeder Asset Management Inc. grew its holdings in Carrier Global by 236.1% during the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock worth $33,000 after acquiring an additional 340 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CARR. JPMorgan Chase & Co. restated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a report on Tuesday, July 15th. Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. Robert W. Baird lowered their price objective on Carrier Global from $88.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Barclays increased their price objective on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Melius Research raised Carrier Global to a "hold" rating and set a $90.00 target price on the stock in a research report on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.65.

Carrier Global Stock Performance

Carrier Global stock traded up $1.28 during midday trading on Friday, hitting $80.72. 3,401,234 shares of the company's stock were exchanged, compared to its average volume of 3,799,481. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.83 and a current ratio of 1.20. The stock has a market cap of $69.21 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 2.17 and a beta of 1.31. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The firm's 50 day simple moving average is $73.54 and its 200 day simple moving average is $68.21.

Carrier Global (NYSE:CARR - Get Free Report) last released 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. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.10% and a net margin of 25.45%. The business's revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share. Equities research analysts predict that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's payout ratio is currently 13.93%.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the 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 completion of the sale, the director directly owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 7.20% of the company's stock.

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.