Retirement Planning Co of New England Inc. Takes $394,000 Position in Carrier Global Corporation (NYSE:CARR)

Retirement Planning Co of New England Inc. acquired a new stake in Carrier Global Corporation (NYSE:CARR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,209 shares of the company's stock, valued at approximately $394,000.

Several other hedge funds also recently modified their holdings of the business. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Carrier Global by 90.0% in the fourth 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 bought a new stake in Carrier Global in the 4th quarter valued at $28,000. Mattson Financial Services LLC bought a new stake in Carrier Global in the 4th quarter valued at $31,000. Investment Research & Advisory Group Inc. bought a new stake in Carrier Global in the 1st quarter valued at $29,000. Finally, Meeder Asset Management Inc. increased its holdings in Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after buying an additional 340 shares during the period. 91.00% of the stock is owned by institutional investors.

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred 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 owned 54,341,534 shares of the company's stock, valued at approximately $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The sale 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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CARR. Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. Melius started coverage on shares of Carrier Global in a report on Tuesday, July 1st. They issued a "hold" rating and a $90.00 price target on the stock. Robert W. Baird dropped their price objective on Carrier Global from $88.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Finally, Citigroup reiterated a "buy" rating and set a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.65.

Carrier Global Price Performance

Shares of CARR stock opened at $76.92 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a 12 month low of $54.22 and a 12 month high of $83.32. The firm has a market cap of $65.95 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.06 and a beta of 1.31. The stock has a 50-day moving average price of $73.00 and a 200 day moving average price of $67.81.

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 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 analysts' expectations of $5.17 billion. During the same quarter in the previous year, the business posted $0.51 EPS. Carrier Global's revenue for the quarter was down 3.7% on a year-over-year basis. Research analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed 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 1.17%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

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.

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