PFG Investments LLC Raises Stake in Carrier Global Co. (NYSE:CARR)

PFG Investments LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 100.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,138 shares of the company’s stock after buying an additional 4,086 shares during the quarter. PFG Investments LLC’s holdings in Carrier Global were worth $473,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. grew its holdings in shares of Carrier Global by 0.9% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after purchasing an additional 181 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Carrier Global by 2.3% during the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after purchasing an additional 182 shares during the period. Graypoint LLC grew its holdings in shares of Carrier Global by 1.9% during the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after purchasing an additional 184 shares during the period. Sovereign Financial Group Inc. grew its holdings in shares of Carrier Global by 4.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after purchasing an additional 188 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Carrier Global by 16.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock worth $80,000 after purchasing an additional 200 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research analyst reports. Barclays increased their price target on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday. Oppenheimer raised their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada dropped their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.62.

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global 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 transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated 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 transaction, the vice president now directly owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Price Performance

NYSE CARR traded down $1.22 during trading hours on Tuesday, reaching $61.49. The company’s stock had a trading volume of 8,035,791 shares, compared to its average volume of 4,908,290. Carrier Global Co. has a fifty-two week low of $40.28 and a fifty-two week high of $63.79. The stock has a market cap of $55.40 billion, a PE ratio of 43.00, a PEG ratio of 2.53 and a beta of 1.39. The company’s 50-day moving average is $56.88 and its two-hundred day moving average is $54.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 53.15%.

Carrier Global Company 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.