Value Partners Investments Inc. Increases Stake in Carrier Global Corporation (NYSE:CARR)

Value Partners Investments Inc. boosted its position in shares of Carrier Global Corporation (NYSE:CARR) by 8.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 31,413 shares of the company’s stock after purchasing an additional 2,372 shares during the quarter. Value Partners Investments Inc.’s holdings in Carrier Global were worth $1,993,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. boosted its holdings in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after acquiring an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after acquiring an additional 180 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Carrier Global in the fourth quarter worth approximately $28,000. Mattson Financial Services LLC bought a new stake in shares of Carrier Global in the fourth quarter worth approximately $31,000. Finally, Investment Research & Advisory Group Inc. bought a new stake in shares of Carrier Global in the first quarter worth approximately $29,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CARR. Robert W. Baird lifted their price target on shares of Carrier Global from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on shares of Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Carrier Global in a research note on Wednesday, May 21st. Royal Bank Of Canada lifted their price target on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. Finally, Barclays boosted their target price on shares of Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, Director Maximilian Viessmann sold 4,267,425 shares of Carrier Global stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the transaction, the director now owns 54,341,534 shares of the company’s stock, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.20% of the company’s stock.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $72.48 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The firm has a market capitalization of $62.14 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33. The firm has a 50 day moving average of $69.41 and a 200 day moving average of $67.27.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, July 21st. Carrier Global’s dividend payout ratio is currently 13.93%.

About Carrier Global

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.