Sunbelt Securities Inc. Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Sunbelt Securities Inc. increased its holdings in Carrier Global Co. (NYSE:CARR) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,033 shares of the company’s stock after buying an additional 182 shares during the period. Sunbelt Securities Inc.’s holdings in Carrier Global were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. McClarren Financial Advisors Inc. grew its position in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in Carrier Global during the 4th quarter valued at about $25,000. EdgeRock Capital LLC purchased a new position in Carrier Global during the 4th quarter valued at about $27,000. VisionPoint Advisory Group LLC bought a new stake in shares of Carrier Global during the third quarter valued at about $30,000. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Carrier Global in the fourth quarter worth about $32,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Down 1.7 %

Shares of CARR opened at $62.86 on Thursday. 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 Co. has a fifty-two week low of $45.68 and a fifty-two week high of $66.50. The firm has a 50 day moving average price of $62.62 and a 200-day moving average price of $58.58. The firm has a market cap of $56.64 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 2.58 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $6.27 billion. As a group, equities research analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.21%. Carrier Global’s payout ratio is 53.15%.

Insiders Place Their Bets

In other news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $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 ninety days. Company insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARR. TD Cowen upped their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Barclays upped their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $74.00 in a research note on Monday. Robert W. Baird boosted their target price on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.64.

Carrier Global 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.