Burney Co. Reduces Holdings in Carrier Global Co. (NYSE:CARR)

Burney Co. reduced its position in Carrier Global Co. (NYSE:CARR) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,511 shares of the company’s stock after selling 2,090 shares during the period. Burney Co.’s holdings in Carrier Global were worth $1,417,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC acquired a new stake in Carrier Global in the second quarter valued at $314,000. FORVIS Wealth Advisors LLC raised its stake in shares of Carrier Global by 42.8% in the 2nd quarter. FORVIS Wealth Advisors LLC now owns 18,653 shares of the company’s stock valued at $927,000 after purchasing an additional 5,593 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Carrier Global by 32.7% during the first quarter. Natixis Advisors L.P. now owns 174,163 shares of the company’s stock worth $7,968,000 after purchasing an additional 42,879 shares during the last quarter. Greenleaf Trust grew its stake in Carrier Global by 6.0% in the first quarter. Greenleaf Trust now owns 21,850 shares of the company’s stock worth $1,000,000 after purchasing an additional 1,244 shares in the last quarter. Finally, Prospera Financial Services Inc increased its holdings in Carrier Global by 2.0% in the second quarter. Prospera Financial Services Inc now owns 15,694 shares of the company’s stock valued at $780,000 after buying an additional 308 shares during the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

NYSE:CARR opened at $52.68 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $52.41 and its 200 day moving average price is $50.75. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $60.04. The firm has a market cap of $44.20 billion, a P/E ratio of 37.36, a PEG ratio of 1.82 and a beta of 1.45.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.11. Carrier Global had a net margin of 5.43% and a return on equity of 26.60%. The company had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Carrier Global Co. will post 2.71 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders 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 dividend yield of 1.40%. Carrier Global’s dividend payout ratio (DPR) is presently 52.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CARR shares. Mizuho downgraded Carrier Global from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $63.00 to $61.00 in a report on Thursday, September 14th. Argus lifted their price objective on shares of Carrier Global from $52.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. UBS Group increased their target price on shares of Carrier Global from $47.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, September 8th. Bank of America lowered shares of Carrier Global from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $62.00 to $55.00 in a report on Thursday, October 5th. Finally, TD Cowen increased their price objective on shares of Carrier Global from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Carrier Global has an average rating of “Hold” and a consensus target price of $57.63.

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.