HB Wealth Management LLC Purchases 4,438 Shares of Carrier Global Corporation (NYSE:CARR)

Key Points

• HB Wealth Management LLC increased its stake in Carrier Global Corporation by 13.9%, owning a total of 36,438 shares worth approximately $2.31 million at the end of the first quarter.
• Director Maximilian Viessmann sold over 4.26 million shares of Carrier Global at an average price of $70.30, reducing his ownership by 7.28%.
• Carrier Global recently declared a $0.225 quarterly dividend, with an annualized yield of 1.25% and a payout ratio of 13.93%.

HB Wealth Management LLC lifted its stake in Carrier Global Corporation (NYSE:CARR - Free Report) by 13.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,438 shares of the company's stock after acquiring an additional 4,438 shares during the period. HB Wealth Management LLC's holdings in Carrier Global were worth $2,310,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CARR. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC bought a new position in Carrier Global in the 4th quarter worth approximately $28,000. Investment Research & Advisory Group Inc. acquired a new position in shares of Carrier Global during the first quarter worth approximately $29,000. Mattson Financial Services LLC acquired a new position in shares of Carrier Global during the fourth quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Carrier Global by 236.1% in the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after acquiring an additional 340 shares during the period. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $1.72 during midday trading on Friday, hitting $66.90. 2,072,924 shares of the company were exchanged, compared to its average volume of 5,349,524. The firm has a 50 day simple moving average of $73.43 and a 200-day simple moving average of $68.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.83. The firm has a market cap of $57.35 billion, a P/E ratio of 14.59, a PEG ratio of 1.86 and a beta of 1.31. Carrier Global Corporation 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 quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Research analysts forecast that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm 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 dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio is presently 19.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CARR. Mizuho set a $72.00 target price on shares of Carrier Global in a research report on Tuesday, April 22nd. Citigroup restated a "buy" rating and set a $89.00 price objective (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Melius Research upgraded shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada lowered their price target on Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.47.

Insider Activity at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the completion of the transaction, the director directly owned 54,341,534 shares of the company's stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.20% of the company's stock.

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.