Van ECK Associates Corp Acquires 4,300 Shares of Carrier Global Co. (NYSE:CARR)

Van ECK Associates Corp lifted its holdings in shares of Carrier Global Co. (NYSE:CARRFree Report) by 3.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 129,063 shares of the company’s stock after acquiring an additional 4,300 shares during the quarter. Van ECK Associates Corp’s holdings in Carrier Global were worth $7,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARR. American Century Companies Inc. increased its holdings in Carrier Global by 29.2% during the 1st quarter. American Century Companies Inc. now owns 16,359 shares of the company’s stock worth $750,000 after acquiring an additional 3,700 shares during the period. Panagora Asset Management Inc. increased its holdings in Carrier Global by 40.1% during the 1st quarter. Panagora Asset Management Inc. now owns 36,481 shares of the company’s stock worth $1,673,000 after acquiring an additional 10,445 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Carrier Global by 23.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,493 shares of the company’s stock worth $343,000 after acquiring an additional 1,412 shares during the period. Candriam Luxembourg S.C.A. increased its holdings in Carrier Global by 22.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 65,241 shares of the company’s stock worth $2,992,000 after acquiring an additional 12,089 shares during the period. Finally, Baird Financial Group Inc. increased its holdings in Carrier Global by 10.6% during the 1st 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. Institutional investors own 91.47% of the company’s stock.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 16,500 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $57.99, for a total transaction of $956,835.00. Following the completion of the sale, the vice president now owns 89,920 shares of the company’s stock, valued at approximately $5,214,460.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Carrier Global news, VP Ajay Agrawal sold 16,500 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $57.99, for a total transaction of $956,835.00. Following the completion of the sale, the vice president now owns 89,920 shares of the company’s stock, valued at approximately $5,214,460.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Insiders sold 397,590 shares of company stock valued at $21,586,315 in the last quarter. Company insiders own 0.38% of the company’s stock.

Carrier Global Price Performance

CARR stock opened at $56.01 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.25 and a current ratio of 2.73. Carrier Global Co. has a 52 week low of $40.28 and a 52 week high of $60.04. The firm’s fifty day moving average is $55.97 and its 200 day moving average is $54.55. The firm has a market cap of $50.32 billion, a P/E ratio of 35.45, a P/E/G ratio of 1.87 and a beta of 1.42.

Carrier Global (NYSE:CARRGet Free Report) last released its earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm earned $0.40 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Thursday, December 21st were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, December 20th. This represents a $0.76 annualized dividend and a yield of 1.36%. This is a boost from Carrier Global’s previous quarterly dividend of $0.19. Carrier Global’s dividend payout ratio is presently 48.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday. Oppenheimer decreased their price target on shares of Carrier Global from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 23rd. Royal Bank of Canada decreased their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Citigroup increased their price target on shares of Carrier Global from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.29.

Check Out Our Latest Report on CARR

About Carrier Global

(Free Report)

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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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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