Wealthfront Advisers LLC Has $6.04 Million Stake in Carrier Global Corporation (NYSE:CARR)

Wealthfront Advisers LLC boosted its holdings in Carrier Global Corporation (NYSE:CARR - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,259 shares of the company's stock after acquiring an additional 6,696 shares during the quarter. Wealthfront Advisers LLC's holdings in Carrier Global were worth $6,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CARR. Norges Bank purchased a new position in Carrier Global in the 4th quarter worth about $588,029,000. Brown Advisory Inc. increased its stake in Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock worth $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Carrier Global in the 4th quarter worth about $166,061,000. Invesco Ltd. increased its stake in Carrier Global by 40.3% in the 4th quarter. Invesco Ltd. now owns 5,057,148 shares of the company's stock worth $345,201,000 after purchasing an additional 1,453,247 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Carrier Global by 16.7% in the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company's stock worth $603,922,000 after purchasing an additional 1,266,137 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Stock Performance

CARR traded down $0.25 on Friday, hitting $76.68. The company had a trading volume of 5,031,716 shares, compared to its average volume of 4,679,867. The company's fifty day moving average price is $73.00 and its 200 day moving average price is $67.81. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 0.83. The stock has a market cap of $65.74 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $5.17 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company's quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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 issued 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 dividend yield of 1.17%. Carrier Global's dividend payout ratio (DPR) is presently 13.93%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CARR. Barclays lifted their price target on Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their target price on Carrier Global from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Northcoast Research raised Carrier Global from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $79.00 target price on shares of Carrier Global in a research note on Tuesday. Finally, Royal Bank Of Canada lifted their target price on Carrier Global from $86.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.65.

Insider Activity at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was 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. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.20% of the stock is currently owned by company insiders.

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.