Sowell Financial Services LLC Acquires Shares of 3,699 Carrier Global Corporation (NYSE:CARR)

Sowell Financial Services LLC bought a new stake in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,699 shares of the company's stock, valued at approximately $234,000.

Other hedge funds also recently made changes to their positions in the company. Syon Capital LLC grew its holdings in Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company's stock valued at $484,000 after purchasing an additional 155 shares during the period. BOK Financial Private Wealth Inc. lifted its position in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after buying an additional 160 shares during the last quarter. Wealthspire Advisors LLC lifted its position in shares of Carrier Global by 3.7% during the 4th quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company's stock valued at $305,000 after buying an additional 161 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Carrier Global by 0.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company's stock worth $1,378,000 after acquiring an additional 169 shares during the period. Finally, Beck Mack & Oliver LLC increased its holdings in Carrier Global by 1.9% in the 4th quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company's stock worth $623,000 after acquiring an additional 174 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Up 0.7%

CARR opened at $70.37 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. Carrier Global Corporation has a one year low of $54.22 and a one year high of $83.32. The firm has a market capitalization of $60.33 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The company has a fifty day moving average price of $68.68 and a 200-day moving average price of $67.21.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $5.17 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm's revenue was down 3.7% on a year-over-year basis. Equities research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. Carrier Global's payout ratio is 13.93%.

Insiders Place Their Bets

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global 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 transaction, the director now directly owns 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CARR shares. Robert W. Baird upped their price objective on shares of Carrier Global from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Royal Bank Of Canada boosted their price target on shares of Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Mizuho set a $72.00 price target on shares of Carrier Global in a research note on Tuesday, April 22nd. Barclays raised their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on shares of Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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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