GAMMA Investing LLC Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

GAMMA Investing LLC lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,942 shares of the company’s stock after purchasing an additional 1,103 shares during the period. GAMMA Investing LLC’s holdings in Carrier Global were worth $578,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CARR. Modera Wealth Management LLC lifted its position in Carrier Global by 19.4% in the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock valued at $1,165,000 after acquiring an additional 3,430 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in Carrier Global by 9.0% in the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock valued at $332,000 after purchasing an additional 476 shares during the period. Andrew Hill Investment Advisors Inc. acquired a new position in Carrier Global in the fourth quarter valued at $2,081,000. AIA Group Ltd increased its stake in Carrier Global by 16.5% in the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock valued at $5,685,000 after purchasing an additional 14,003 shares during the period. Finally, Versor Investments LP acquired a new position in Carrier Global in the fourth quarter valued at $1,132,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CARR has been the topic of a number of recent research reports. 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 research note on Monday, April 8th. TD Cowen boosted their price target on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Robert W. Baird boosted their price target on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Oppenheimer boosted their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company boosted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.86.

Carrier Global Trading Up 0.9 %

Shares of NYSE:CARR opened at $65.72 on Thursday. The company has a market cap of $59.21 billion, a PE ratio of 45.96, a P/E/G ratio of 2.65 and a beta of 1.33. The company’s 50-day moving average price is $61.98 and its 200 day moving average price is $58.26. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $66.50. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Sell-side analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Transactions at Carrier Global

In related news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock valued at $16,650,050 in the last quarter. Insiders own 6.95% of the company’s stock.

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.