Puzo Michael J Boosts Stock Position in Carrier Global Corporation (NYSE:CARR)

Puzo Michael J boosted its stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,400 shares of the company's stock after acquiring an additional 13,823 shares during the quarter. Carrier Global accounts for 2.1% of Puzo Michael J's holdings, making the stock its 27th largest position. Puzo Michael J's holdings in Carrier Global were worth $7,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Carrier Global in the fourth quarter valued at approximately $588,029,000. Wealthfront Advisers LLC increased its position in shares of Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock valued at $341,300,000 after buying an additional 4,915,826 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Carrier Global by 139.1% in the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company's stock valued at $361,544,000 after buying an additional 3,080,984 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Carrier Global in the fourth quarter valued at approximately $166,061,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Carrier Global in the fourth quarter valued at approximately $108,433,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Trading Up 0.0%

NYSE CARR traded up $0.02 on Thursday, reaching $69.80. 4,073,098 shares of the company were exchanged, compared to its average volume of 4,691,105. The business's fifty day moving average price is $68.45 and its 200 day moving average price is $67.35. The stock has a market capitalization of $59.84 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The company's quarterly revenue was down 3.7% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays boosted their price objective on Carrier Global from $83.00 to $84.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. 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 research report on Friday, May 9th. Royal Bank Of Canada boosted their price target on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Wolfe Research upgraded Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Carrier Global presently has an average rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business's stock in a transaction on 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 sale, the director now owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.