Vestmark Advisory Solutions Inc. Increases Stock Holdings in Carrier Global Co. (NYSE:CARR)

Vestmark Advisory Solutions Inc. boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 74.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,434 shares of the company’s stock after buying an additional 7,428 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Carrier Global were worth $867,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 303 shares during the last quarter. Nemes Rush Group LLC bought a new stake in Carrier Global in the second quarter worth about $29,000. WealthPLAN Partners LLC purchased a new position in shares of Carrier Global during the first quarter valued at approximately $29,000. Tradition Wealth Management LLC grew its stake in shares of Carrier Global by 124.2% during the first quarter. Tradition Wealth Management LLC now owns 740 shares of the company’s stock valued at $34,000 after buying an additional 410 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of Carrier Global by 95.2% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 779 shares of the company’s stock worth $36,000 after buying an additional 380 shares during the period. 91.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CARR shares. Mizuho cut Carrier Global from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $63.00 to $61.00 in a report on Thursday, September 14th. Barclays boosted their target price on shares of Carrier Global from $54.00 to $63.00 in a research note on Friday, July 28th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $60.00 to $55.00 in a research note on Monday, October 9th. JPMorgan Chase & Co. cut shares of Carrier Global from a “neutral” rating to an “underweight” rating and set a $53.00 price objective for the company. in a research report on Friday, October 6th. Finally, Wolfe Research lowered shares of Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 target price on the stock. in a research report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.63.

Carrier Global Trading Up 0.3 %

CARR opened at $50.44 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 1.02. The firm has a market cap of $42.32 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 1.76 and a beta of 1.45. Carrier Global Co. has a 12 month low of $40.28 and a 12 month high of $60.04. The stock has a fifty day moving average price of $53.18 and a 200-day moving average price of $50.39.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, October 26th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.11. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.89 billion. Carrier Global had a return on equity of 26.60% and a net margin of 5.43%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.71 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 Monday, November 20th. Investors of record on Friday, October 27th will be given a dividend of $0.185 per share. The ex-dividend date is Thursday, October 26th. This represents a $0.74 dividend on an annualized basis and a yield of 1.47%. Carrier Global’s payout ratio is 52.48%.

Carrier Global Profile

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.