Nicolet Advisory Services LLC Has $850,000 Holdings in Carrier Global Corporation (NYSE:CARR)

Key Points

• Nicolet Advisory Services LLC increased its holdings in Carrier Global Corporation by 59.3%, acquiring an additional 5,360 shares, bringing its total ownership to 14,401 shares valued at approximately $850,000.
• Several hedge funds adjusted their stakes in Carrier Global, with Golden State Wealth Management and Bessemer Group increasing their holdings by 51.8% and 15.7%, respectively, during the first quarter.
• Carrier Global recently announced a quarterly dividend of $0.225 per share, with an ex-dividend date of July 21st, representing an annualized yield of 1.3%.

Nicolet Advisory Services LLC increased its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 59.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,401 shares of the company's stock after purchasing an additional 5,360 shares during the quarter. Nicolet Advisory Services LLC's holdings in Carrier Global were worth $850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. raised its holdings in shares of 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 period. Invesco Ltd. raised its holdings 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 acquiring an additional 1,453,247 shares during the period. Northern Trust Corp raised its holdings 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 acquiring an additional 1,266,137 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings 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 acquiring an additional 1,079,103 shares during the period. Finally, GAMMA Investing LLC raised its holdings 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 acquiring an additional 1,043,833 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Royal Bank Of Canada dropped their price objective on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. 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 note on Monday, May 5th. Robert W. Baird dropped their price objective on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 price objective on shares of Carrier Global in a research note on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $84.47.

Insider Activity

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

Carrier Global Stock Performance

Shares of NYSE CARR traded down $0.26 during trading hours on Wednesday, hitting $66.13. 1,888,530 shares of the stock were exchanged, compared to its average volume of 5,334,220. 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's 50 day moving average is $73.14 and its 200 day moving average is $68.28. The firm has a market capitalization of $56.27 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.83 and a beta of 1.25. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32.

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, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. On average, research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The company 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 dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio is currently 19.61%.

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.