Wealthcare Advisory Partners LLC Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Wealthcare Advisory Partners LLC raised its position in Carrier Global Co. (NYSE:CARR) by 18.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,847 shares of the company’s stock after acquiring an additional 1,088 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Carrier Global were worth $398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CARR. McClarren Financial Advisors Inc. increased its holdings in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $25,000. EdgeRock Capital LLC purchased a new position in shares of Carrier Global during the fourth quarter valued at approximately $27,000. VisionPoint Advisory Group LLC bought a new position in shares of Carrier Global during the third quarter valued at approximately $30,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Carrier Global in the fourth quarter worth $32,000. 91.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARR has been the topic of a number of research analyst reports. Oppenheimer boosted their price objective on shares of Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird increased 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. 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 report on Monday, June 24th. TD Cowen increased their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Barclays lifted their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Carrier Global has an average rating of “Hold” and an average target price of $64.14.

Insider Transactions at Carrier Global

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

Carrier Global Price Performance

Shares of CARR opened at $63.08 on Monday. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $66.50. The company has a market capitalization of $56.84 billion, a P/E ratio of 44.11, a price-to-earnings-growth ratio of 2.55 and a beta of 1.33. The firm has a 50 day moving average of $63.18 and a 200 day moving average of $58.73. 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 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. The firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is presently 53.15%.

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.