Gamco Investors INC. ET AL Buys 49,682 Shares of Carrier Global Co. (NYSE:CARR)

Gamco Investors INC. ET AL lifted its stake in Carrier Global Co. (NYSE:CARR) by 40.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 171,045 shares of the company’s stock after buying an additional 49,682 shares during the period. Gamco Investors INC. ET AL’s holdings in Carrier Global were worth $9,943,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CARR. McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Carrier Global during the fourth quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global during the fourth quarter worth approximately $27,000. Criterion Capital Advisors LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $32,000. Finally, Planned Solutions Inc. acquired a new stake in shares of Carrier Global in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders sold 262,954 shares of company stock valued at $16,650,050 in the last quarter. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock traded up $1.94 during midday trading on Friday, hitting $66.77. 4,351,536 shares of the company were exchanged, compared to its average volume of 4,160,366. The firm has a market capitalization of $60.16 billion, a P/E ratio of 46.69, a PEG ratio of 2.52 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.99 and a current ratio of 1.08. The firm’s 50 day moving average price is $64.53 and its two-hundred day moving average price is $59.89. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $70.09.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research reports. Robert W. Baird lowered their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. TD Cowen raised their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Oppenheimer reduced their price target on shares of Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $72.00 price target on shares of Carrier Global in a research note on Friday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and an average price target of $65.64.

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.