Financial Advisors LLC Invests $218,000 in Carrier Global Co. (NYSE:CARR)

Financial Advisors LLC bought a new position in Carrier Global Co. (NYSE:CARR) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 2,714 shares of the company’s stock, valued at approximately $218,000.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Capital International Investors boosted its stake in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after purchasing an additional 17,021,768 shares during the period. PineStone Asset Management Inc. boosted its stake in shares of Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Carrier Global by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after purchasing an additional 72,633 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CARR. Morgan Stanley began coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Barclays lifted their price target on shares of Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Bank of America lifted their price target on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Finally, Robert W. Baird lowered their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.83.

Carrier Global Stock Up 1.3 %

Shares of NYSE CARR traded up $1.08 during midday trading on Thursday, reaching $82.13. 297,065 shares of the company’s stock traded hands, compared to its average volume of 4,128,368. The company has a market cap of $74.00 billion, a price-to-earnings ratio of 57.37, a P/E/G ratio of 2.94 and a beta of 1.32. The stock’s 50 day simple moving average is $74.63 and its 200-day simple moving average is $66.88. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a one year low of $45.68 and a one year high of $83.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. On average, analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. Carrier Global’s dividend payout ratio is presently 53.15%.

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.