United Bank Makes New $763,000 Investment in Carrier Global Corporation (NYSE:CARR)

United Bank purchased a new position in Carrier Global Corporation (NYSE:CARR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,035 shares of the company's stock, valued at approximately $763,000.

Several other hedge funds have also made changes to their positions in the stock. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after acquiring an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global in the fourth quarter worth $28,000. Mattson Financial Services LLC acquired a new stake in Carrier Global during the fourth quarter valued at $31,000. Investment Research & Advisory Group Inc. acquired a new stake in Carrier Global during the first quarter valued at $29,000. Finally, Meeder Asset Management Inc. boosted its position in Carrier Global by 236.1% during the fourth quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 91.00% of the company's stock.

Carrier Global Stock Up 0.2%

CARR stock traded up $0.17 during trading hours on Tuesday, reaching $76.14. 655,354 shares of the stock were exchanged, compared to its average volume of 4,673,558. The company has a market cap of $65.27 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.09 and a beta of 1.31. The firm's 50-day moving average is $73.11 and its 200-day moving average is $67.87. 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 12 month low of $54.22 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last announced 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 company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter last year, the company earned $0.51 EPS. Carrier Global's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities research analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Monday, July 21st. Carrier Global's payout ratio is currently 13.93%.

Insider Transactions at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of the firm's 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 directly owned 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup reiterated a "buy" rating and issued a $89.00 price objective (up from $82.00) on shares of Carrier Global in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price objective on Carrier Global from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group reiterated a "buy" rating on shares of Carrier Global in a research note on Wednesday, May 21st. Melius Research upgraded Carrier Global to a "hold" rating and set a $90.00 price objective on the stock in a research note on Tuesday, July 1st. Finally, Melius initiated coverage on Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of "Moderate Buy" and an average price target of $84.65.

About Carrier Global

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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