Park Avenue Securities LLC Raises Stake in Carrier Global Co. (NYSE:CARR)

Park Avenue Securities LLC boosted its position in Carrier Global Co. (NYSE:CARRGet Rating) by 11.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,844 shares of the company’s stock after buying an additional 1,204 shares during the quarter. Park Avenue Securities LLC’s holdings in Carrier Global were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CARR. American Century Companies Inc. boosted its stake in shares of Carrier Global by 29.2% during the first quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock valued at $750,000 after purchasing an additional 3,700 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Carrier Global by 40.1% during the first quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock valued at $1,673,000 after acquiring an additional 10,445 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Carrier Global by 23.2% during the first quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock valued at $343,000 after acquiring an additional 1,412 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Carrier Global by 22.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock valued at $2,992,000 after acquiring an additional 12,089 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Carrier Global by 10.6% during the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock valued at $36,078,000 after acquiring an additional 75,622 shares in the last quarter. Hedge funds and other institutional investors own 85.21% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $42.57 on Friday. Carrier Global Co. has a 1-year low of $33.10 and a 1-year high of $48.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.62 and a quick ratio of 1.18. The business has a fifty day moving average price of $43.22 and a 200-day moving average price of $40.44. The company has a market capitalization of $35.60 billion, a PE ratio of 10.28, a PEG ratio of 2.19 and a beta of 1.33.

Carrier Global (NYSE:CARRGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Carrier Global had a return on equity of 28.45% and a net margin of 17.55%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.44 billion. As a group, equities analysts expect that Carrier Global Co. will post 2.34 EPS for the current fiscal year.

Carrier Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Thursday, December 22nd will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Wednesday, December 21st. This is an increase from Carrier Global’s previous quarterly dividend of $0.15. This represents a $0.74 annualized dividend and a dividend yield of 1.74%. Carrier Global’s dividend payout ratio (DPR) is presently 17.87%.

Insider Activity

In other news, insider Jurgen Timperman sold 102,552 shares of the firm’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $43.57, for a total transaction of $4,468,190.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CARR shares. Cowen decreased their target price on Carrier Global from $58.00 to $49.00 and set an “outperform” rating for the company in a report on Monday, October 31st. Wells Fargo & Company upped their target price on Carrier Global from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup upped their target price on Carrier Global from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 9th. Mizuho upgraded Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $53.00 in a report on Friday, January 13th. Finally, Credit Suisse Group increased their price objective on Carrier Global to $42.00 in a report on Tuesday, November 1st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.92.

About Carrier Global

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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