Graham Capital Management L.P. Lowers Position in Carrier Global Co. (NYSE:CARR)

Graham Capital Management L.P. decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 18.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 142,538 shares of the company’s stock after selling 33,197 shares during the period. Graham Capital Management L.P.’s holdings in Carrier Global were worth $9,730,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. RFG Advisory LLC grew its holdings in Carrier Global by 36.2% in the fourth quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after purchasing an additional 1,904 shares during the period. Princeton Global Asset Management LLC grew its stake in shares of Carrier Global by 1,156.1% in the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock worth $1,410,000 after buying an additional 19,018 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in Carrier Global during the 4th quarter valued at approximately $2,213,000. Waldron Private Wealth LLC raised its stake in Carrier Global by 90.5% during the fourth quarter. Waldron Private Wealth LLC now owns 16,532 shares of the company’s stock valued at $1,128,000 after buying an additional 7,854 shares during the last quarter. Finally, Gateway Wealth Partners LLC boosted its holdings in Carrier Global by 221.8% in the fourth quarter. Gateway Wealth Partners LLC now owns 10,327 shares of the company’s stock worth $705,000 after acquiring an additional 7,118 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 1.3 %

Shares of NYSE:CARR opened at $71.44 on Friday. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32. The stock has a market capitalization of $61.25 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The stock’s 50-day simple moving average is $63.72 and its two-hundred day simple moving average is $68.02.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts expect that Carrier Global Co. will post 2.99 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. Carrier Global’s dividend payout ratio is currently 13.93%.

Analysts Set New Price Targets

CARR has been the subject of several analyst reports. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Friday. Wells Fargo & Company lifted their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Monday, February 24th. Finally, Barclays increased their target price on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.53.

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.