Summit Trail Advisors LLC Makes New Investment in Carrier Global Co. (NYSE:CARR)

Summit Trail Advisors LLC acquired a new position in Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,630 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. grew its stake in shares of Carrier Global by 0.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after buying an additional 181 shares during the last quarter. Graypoint LLC raised its holdings in Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock worth $560,000 after acquiring an additional 184 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in Carrier Global by 16.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock worth $80,000 after acquiring an additional 200 shares during the last quarter. Operose Advisors LLC grew its position in Carrier Global by 44.4% in the 3rd quarter. Operose Advisors LLC now owns 650 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares during the period. Finally, Boston Financial Mangement LLC grew its position in Carrier Global by 2.2% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock worth $519,000 after purchasing an additional 201 shares during the period. Institutional investors own 91.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CARR shares. Robert W. Baird lifted their target price on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Royal Bank of Canada cut their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. TD Cowen lifted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Barclays boosted their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Oppenheimer boosted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $62.71.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $64.32 on Thursday. The company’s fifty day moving average price is $57.71 and its 200 day moving average price is $55.36. Carrier Global Co. has a 12 month low of $40.49 and a 12 month high of $64.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $57.95 billion, a P/E ratio of 44.97, a P/E/G ratio of 2.61 and a beta of 1.34.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The firm had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. As a group, sell-side analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.95% of the stock is currently owned by company insiders.

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.