Delta Asset Management LLC TN Boosts Stock Holdings in Carrier Global Co. (NYSE:CARR)

Delta Asset Management LLC TN lifted its holdings in Carrier Global Co. (NYSE:CARR) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 549,378 shares of the company’s stock after purchasing an additional 15,910 shares during the period. Carrier Global comprises 2.7% of Delta Asset Management LLC TN’s holdings, making the stock its 13th biggest position. Delta Asset Management LLC TN owned 0.07% of Carrier Global worth $27,310,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Knuff & Co LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $25,000. Avalon Trust Co purchased a new stake in Carrier Global during the second quarter valued at approximately $27,000. Covestor Ltd boosted its stake in Carrier Global by 121.2% in the first quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 303 shares in the last quarter. Nemes Rush Group LLC purchased a new position in Carrier Global in the second quarter worth $29,000. Finally, WealthPLAN Partners LLC acquired a new position in shares of Carrier Global during the first quarter worth $29,000. 91.47% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR stock traded up $0.84 during midday trading on Monday, hitting $54.06. 1,176,940 shares of the stock traded hands, compared to its average volume of 5,054,529. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.04. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.66 and a quick ratio of 1.25. The stock’s fifty day simple moving average is $52.30 and its 200-day simple moving average is $50.97. The firm has a market cap of $45.36 billion, a P/E ratio of 37.74, a PEG ratio of 1.82 and a beta of 1.45.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, October 26th. The company reported $0.89 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.89 billion. During the same period last year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect that Carrier Global Co. will post 2.71 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, October 27th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, October 26th. Carrier Global’s payout ratio is presently 52.48%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Carrier Global from $54.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Argus increased their price objective on shares of Carrier Global from $52.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Barclays upped their price target on shares of Carrier Global from $54.00 to $63.00 in a research note on Friday, July 28th. TD Cowen lifted 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. Finally, Wolfe Research lowered Carrier Global from a “peer perform” rating to an “underperform” rating and set a $56.00 target price for the company. in a research note on Thursday, October 12th. Three research 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.