Professional Advisory Services Inc. Has $22.86 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Professional Advisory Services Inc. cut its position in Carrier Global Co. (NYSE:CARR) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 284,042 shares of the company’s stock after selling 73,258 shares during the period. Carrier Global comprises about 3.0% of Professional Advisory Services Inc.’s portfolio, making the stock its 12th largest position. Professional Advisory Services Inc.’s holdings in Carrier Global were worth $22,863,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. raised its holdings in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC acquired a new stake in Carrier Global in the second quarter worth $32,000. Register Financial Advisors LLC acquired a new stake in shares of Carrier Global during the first quarter worth $34,000. Finally, Rise Advisors LLC raised its holdings in shares of Carrier Global by 3,668.8% during the first quarter. Rise Advisors LLC now owns 603 shares of the company’s stock worth $35,000 after acquiring an additional 587 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Stock Performance

NYSE CARR opened at $81.44 on Friday. The firm has a 50-day moving average of $74.97 and a 200-day moving average of $66.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock has a market cap of $73.38 billion, a PE ratio of 56.95, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. On average, sell-side analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Insiders Place Their Bets

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s 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 completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective on the stock. Barclays raised their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Bank of America raised their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Oppenheimer raised their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.83.

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.