Farther Finance Advisors LLC Buys 2,570 Shares of Carrier Global Co. (NYSE:CARR)

Farther Finance Advisors LLC grew its stake in Carrier Global Co. (NYSE:CARR) by 36.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,664 shares of the company’s stock after purchasing an additional 2,570 shares during the quarter. Farther Finance Advisors LLC’s holdings in Carrier Global were worth $614,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Carrier Global by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after acquiring an additional 420,081 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Carrier Global by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after purchasing an additional 46,222 shares during the period. Northern Trust Corp boosted its position in shares of Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock valued at $603,922,000 after purchasing an additional 1,266,137 shares in the last quarter. Norges Bank purchased a new stake in Carrier Global in the fourth quarter worth $588,029,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Carrier Global by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company’s stock worth $473,046,000 after purchasing an additional 936,892 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CARR. JPMorgan Chase & Co. boosted their target price on shares of Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Citigroup dropped their price objective on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays upped their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Royal Bank of Canada lifted their target price on shares of Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Finally, Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Carrier Global Stock Performance

Shares of CARR opened at $71.17 on Friday. The company has a market cap of $61.01 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 2.01 and a beta of 1.33. The business’s fifty day simple moving average is $67.57 and its two-hundred day simple moving average is $67.47. Carrier Global Co. has a 12 month low of $54.22 and a 12 month high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period last year, the firm posted $0.51 earnings per share. Carrier Global’s revenue was down 3.7% compared to the same quarter last year. Research analysts anticipate that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be paid a $0.225 dividend. The ex-dividend date is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.26%. Carrier Global’s dividend payout ratio is presently 13.93%.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $70.30, for a total value of $299,999,977.50. Following the transaction, the director now directly owns 54,341,534 shares in the company, valued at $3,820,209,840.20. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.20% of the company’s stock.

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.