Massachusetts Financial Services Co. MA Has $87.88 Million Stake in Carrier Global Corporation (NYSE:CARR)

Massachusetts Financial Services Co. MA increased its position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 73.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,386,050 shares of the company's stock after purchasing an additional 585,365 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.16% of Carrier Global worth $87,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Syon Capital LLC lifted its position in Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock worth $484,000 after purchasing an additional 155 shares during the period. Code Waechter LLC lifted its position in Carrier Global by 5.1% during the first quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after purchasing an additional 164 shares during the period. Essex Financial Services Inc. lifted its position in Carrier Global by 0.4% during the first quarter. Essex Financial Services Inc. now owns 41,778 shares of the company's stock worth $2,649,000 after purchasing an additional 173 shares during the period. Beck Mack & Oliver LLC lifted its position in Carrier Global by 1.9% during the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company's stock worth $623,000 after purchasing an additional 174 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in Carrier Global by 90.0% during the fourth 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 period. Institutional investors own 91.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CARR shares. 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 report on Monday, May 5th. Robert W. Baird dropped their target price on shares of Carrier Global from $88.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday. Melius Research raised shares of Carrier Global to a "hold" rating and set a $90.00 target price for the company in a report on Tuesday, July 1st. Northcoast Research raised shares of Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price for the company in a report on Friday, May 9th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $84.65.

Insiders Place Their Bets

In other Carrier Global 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 transaction of $299,999,977.50. Following the completion of the sale, the director owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company's stock.

Carrier Global Trading Down 0.3%

Shares of Carrier Global stock traded down $0.25 on Friday, hitting $76.68. The stock had a trading volume of 5,031,716 shares, compared to its average volume of 4,690,216. The stock has a 50 day moving average of $73.11 and a 200 day moving average of $67.87. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $83.32. 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 firm has a market capitalization of $65.74 billion, a P/E ratio of 11.87, a PEG ratio of 2.09 and a beta of 1.31.

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

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio is presently 13.93%.

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.