Ropes Wealth Advisors LLC bought a new stake in Carrier Global Co. (NYSE:CARR – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,408 shares of the company’s stock, valued at approximately $219,000.
Other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its holdings 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. increased 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 purchasing an additional 10,445 shares during the period. Sequoia Financial Advisors LLC increased 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 purchasing an additional 1,412 shares during the period. Candriam Luxembourg S.C.A. increased 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 purchasing an additional 12,089 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in Carrier Global by 10.6% during the first quarter. Baird Financial Group Inc. now owns 786,543 shares of the company’s stock worth $36,078,000 after acquiring an additional 75,622 shares during the period. 91.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CARR has been the topic of a number of research analyst reports. Argus lifted their target price on Carrier Global from $52.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Morgan Stanley lifted their target price on Carrier Global from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Friday, September 22nd. Wolfe Research lowered Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 target price on the stock. in a report on Thursday, October 12th. UBS Group lifted their target price on Carrier Global from $47.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, September 8th. Finally, Wells Fargo & Company lowered their target price on Carrier Global from $60.00 to $55.00 in a report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Hold” and a consensus target price of $57.63.
Carrier Global Trading Up 1.0 %
Shares of NYSE CARR opened at $50.97 on Thursday. Carrier Global Co. has a one year low of $40.28 and a one year high of $60.04. The firm has a market capitalization of $42.77 billion, a PE ratio of 36.15, a PEG ratio of 1.75 and a beta of 1.45. 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 business has a 50-day moving average price of $53.06 and a two-hundred day moving average price of $50.39.
Carrier Global (NYSE:CARR – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.11. Carrier Global had a return on equity of 26.60% and a net margin of 5.43%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same period last year, the company posted $0.70 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that Carrier Global Co. will post 2.71 earnings per share for the current fiscal year.
Carrier Global Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, October 27th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Thursday, October 26th. This represents a $0.74 dividend on an annualized basis and a yield of 1.45%. Carrier Global’s payout ratio is presently 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.
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