Cumberland Partners Ltd Invests $5.76 Million in Carrier Global Co. (NYSE:CARR)

Cumberland Partners Ltd purchased a new position in Carrier Global Co. (NYSE:CARR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 100,290 shares of the company's stock, valued at approximately $5,762,000.

A number of other large investors also recently modified their holdings of CARR. Beese Fulmer Investment Management Inc. increased its holdings in shares of Carrier Global by 0.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company's stock worth $1,119,000 after acquiring an additional 181 shares during the period. Graypoint LLC increased its holdings in shares of Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company's stock worth $560,000 after acquiring an additional 184 shares during the period. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Carrier Global by 16.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company's stock worth $80,000 after acquiring an additional 200 shares during the period. Operose Advisors LLC increased its holdings in shares of Carrier Global by 44.4% in the 3rd quarter. Operose Advisors LLC now owns 650 shares of the company's stock worth $36,000 after acquiring an additional 200 shares during the period. Finally, Boston Financial Mangement LLC increased its holdings in shares of Carrier Global by 2.2% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company's stock worth $519,000 after acquiring an additional 201 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CARR shares. Barclays raised their target price on shares of Carrier Global from $71.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Royal Bank of Canada dropped their price target on shares of Carrier Global from $63.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Citigroup boosted their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Wells Fargo & Company dropped their price target on shares of Carrier Global from $63.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 7th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $63.00 target price on shares of Carrier Global in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.15.

Insiders Place Their Bets

In other news, VP Kevin J. O'connor sold 26,551 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David L. Gitlin sold 354,539 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kevin J. O'connor sold 26,551 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares of the company's stock, valued at $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company's stock.

Carrier Global Stock Up 2.9 %

CARR traded up $1.55 on Tuesday, reaching $55.17. 6,389,183 shares of the company traded hands, compared to its average volume of 4,720,790. The stock's 50 day moving average price is $56.34 and its 200-day moving average price is $54.76. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $60.87. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.26 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40.

Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, sell-side analysts expect that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, May 2nd. Carrier Global's dividend payout ratio is 48.10%.

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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