Private Advisor Group LLC Sells 33,659 Shares of Carrier Global Co. (NYSE:CARR)

Private Advisor Group LLC cut its holdings in Carrier Global Co. (NYSE:CARR) by 26.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,446 shares of the company’s stock after selling 33,659 shares during the period. Private Advisor Group LLC’s holdings in Carrier Global were worth $4,910,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Knuff & Co LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth about $25,000. Covestor Ltd boosted its stake in shares of Carrier Global by 121.2% during the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 303 shares during the period. Avalon Trust Co purchased a new position in shares of Carrier Global during the 2nd quarter worth about $27,000. WealthPLAN Partners LLC purchased a new position in shares of Carrier Global during the 1st quarter worth about $29,000. Finally, Nemes Rush Group LLC purchased a new position in shares of Carrier Global during the 2nd quarter worth about $29,000. 91.47% of the stock is currently owned by institutional investors.

Carrier Global Trading Up 1.0 %

NYSE CARR opened at $53.22 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 firm has a market cap of $44.65 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 1.82 and a beta of 1.45. The company has a 50 day moving average price of $52.30 and a 200 day moving average price of $50.90. Carrier Global Co. has a 52 week low of $40.28 and a 52 week high of $60.04.

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

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, October 27th will be paid 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 1.39%. Carrier Global’s payout ratio is 52.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Carrier Global from $54.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Morgan Stanley boosted their price objective on shares of Carrier Global from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Friday, September 22nd. Wolfe Research cut shares of Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 price objective for the company. in a research report on Thursday, October 12th. 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, Mizuho cut shares of Carrier Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $63.00 to $61.00 in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average price target of $57.63.

Carrier Global Company 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.