Great Valley Advisor Group Inc. Raises Stake in Carrier Global Co. (NYSE:CARR)

Great Valley Advisor Group Inc. raised its position in shares of Carrier Global Co. (NYSE:CARR) by 2.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,027 shares of the company’s stock after purchasing an additional 298 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Carrier Global were worth $633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in Carrier Global during the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in Carrier Global during the third quarter valued at approximately $28,000. Larson Financial Group LLC lifted its holdings in Carrier Global by 76.2% during the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares in the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new position in Carrier Global during the third quarter valued at approximately $30,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CARR has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays boosted their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Robert W. Baird boosted their price target on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank of Canada reduced their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, Oppenheimer boosted their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.71.

Insider Activity at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Insiders sold 541,005 shares of company stock valued at $30,536,214 in the last three months. 6.95% of the stock is owned by insiders.

Carrier Global Stock Performance

CARR stock opened at $62.09 on Friday. The firm has a market cap of $55.94 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 2.61 and a beta of 1.34. The firm has a 50-day simple moving average of $57.32 and a two-hundred day simple moving average of $55.09. Carrier Global Co. has a one year low of $40.28 and a one year high of $63.79. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, equities analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is currently 53.15%.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.