Carrier Global Co. (NYSE:CARR) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its position in Carrier Global Co. (NYSE:CARR) by 17.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,456 shares of the company’s stock after acquiring an additional 3,121 shares during the period. First Trust Direct Indexing L.P.’s holdings in Carrier Global were worth $1,247,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. grew its holdings in 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 during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Carrier Global during the 4th quarter worth about $25,000. EdgeRock Capital LLC acquired a new stake in Carrier Global in the 4th quarter worth about $27,000. VisionPoint Advisory Group LLC purchased a new stake in Carrier Global during the 3rd quarter worth approximately $30,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Carrier Global during the fourth quarter valued at approximately $32,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $63.46 on Friday. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $66.50. The firm has a market capitalization of $57.18 billion, a price-to-earnings ratio of 44.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The business’s 50 day simple moving average is $63.74 and its 200-day simple moving average is $58.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

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

Carrier Global Dividend Announcement

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

Insiders Place Their Bets

In related news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares in the company, valued at approximately $5,560,831.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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. Insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CARR. Barclays boosted their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. TD Cowen raised their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Oppenheimer raised their target price on Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Robert W. Baird boosted their price target on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Citigroup upgraded shares of 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 report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus target price of $64.14.

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.