Cobblestone Capital Advisors LLC NY Increases Stock Position in Carrier Global Corporation $CARR

Cobblestone Capital Advisors LLC NY grew its stake in shares of Carrier Global Corporation (NYSE:CARR) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,371 shares of the company’s stock after acquiring an additional 389 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Carrier Global were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Nuveen LLC purchased a new stake in Carrier Global during the 1st quarter worth about $649,512,000. JPMorgan Chase & Co. lifted its holdings in shares of Carrier Global by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 31,126,869 shares of the company’s stock worth $1,973,444,000 after buying an additional 4,668,929 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Carrier Global by 82.6% in the first quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock worth $613,330,000 after buying an additional 4,377,402 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Carrier Global by 61.9% in the first quarter. Alliancebernstein L.P. now owns 4,318,806 shares of the company’s stock worth $273,812,000 after buying an additional 1,651,873 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Carrier Global by 23.5% in the first quarter. Victory Capital Management Inc. now owns 4,512,774 shares of the company’s stock worth $286,110,000 after buying an additional 857,694 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CARR. Jefferies Financial Group reiterated a “buy” rating on shares of Carrier Global in a research note on Thursday, September 11th. Wolfe Research lowered their price objective on Carrier Global from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Melius Research upgraded Carrier Global to a “hold” rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 1st. Citigroup lowered their price target on Carrier Global from $89.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Finally, Mizuho lowered their price target on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.41.

Carrier Global Trading Up 0.7%

NYSE CARR opened at $58.23 on Tuesday. The stock’s 50-day simple moving average is $61.13 and its two-hundred day simple moving average is $66.99. Carrier Global Corporation has a twelve month low of $54.22 and a twelve month high of $81.09. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $49.55 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.90 and a beta of 1.25.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global had a return on equity of 17.83% and a net margin of 18.33%. Research analysts forecast that Carrier Global Corporation will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

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.