Farmers & Merchants Investments Inc. Boosts Stock Position in Carrier Global Co. (NYSE:CARR)

Farmers & Merchants Investments Inc. boosted its holdings in Carrier Global Co. (NYSE:CARR) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,762 shares of the company’s stock after buying an additional 997 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Carrier Global were worth $4,346,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in shares of Carrier Global by 72.1% during the third quarter. Federated Hermes Inc. now owns 3,899 shares of the company’s stock worth $215,000 after purchasing an additional 1,634 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of Carrier Global by 12.8% during the third quarter. Bank of Nova Scotia now owns 89,007 shares of the company’s stock worth $4,913,000 after purchasing an additional 10,114 shares during the last quarter. Teza Capital Management LLC purchased a new position in shares of Carrier Global during the third quarter worth about $462,000. Waverly Advisors LLC purchased a new position in shares of Carrier Global during the third quarter worth about $215,000. Finally, Truist Financial Corp grew its holdings in shares of Carrier Global by 55.5% during the third quarter. Truist Financial Corp now owns 234,414 shares of the company’s stock worth $12,940,000 after purchasing an additional 83,684 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $62.85 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The company has a market cap of $56.63 billion, a P/E ratio of 43.95, a PEG ratio of 2.46 and a beta of 1.32. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $66.50. The company has a 50-day moving average price of $63.50 and a 200 day moving average price of $58.79.

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

Carrier Global Dividend Announcement

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

Insider Transactions at Carrier Global

In other news, insider Jurgen Timperman sold 159,915 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. 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. 6.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CARR shares. TD Cowen raised their price objective on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Robert W. Baird increased their target price 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. Wells Fargo & Company increased their target price 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. Finally, Oppenheimer increased their target price on shares of Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.14.

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.