Pegasus Asset Management Inc. Decreases Stake in Carrier Global Co. (NYSE:CARR)

Pegasus Asset Management Inc. decreased its holdings in Carrier Global Co. (NYSE:CARR) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,571 shares of the company’s stock after selling 1,102 shares during the period. Carrier Global accounts for approximately 2.4% of Pegasus Asset Management Inc.’s holdings, making the stock its 16th biggest holding. Pegasus Asset Management Inc.’s holdings in Carrier Global were worth $6,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CARR. Eastern Bank acquired a new stake in shares of Carrier Global in the third quarter worth $1,525,000. Sequoia Financial Advisors LLC grew its holdings in Carrier Global by 12.2% during the third quarter. Sequoia Financial Advisors LLC now owns 14,697 shares of the company’s stock worth $1,183,000 after acquiring an additional 1,600 shares during the period. Home Federal Bank of Tennessee boosted its holdings in Carrier Global by 3.4% during the third quarter. Home Federal Bank of Tennessee now owns 17,452 shares of the company’s stock worth $1,405,000 after buying an additional 575 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Carrier Global by 2.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock worth $465,000 after acquiring an additional 163 shares in the last quarter. Finally, Little House Capital LLC grew its position in shares of Carrier Global by 22.8% during the 3rd quarter. Little House Capital LLC now owns 11,488 shares of the company’s stock valued at $925,000 after acquiring an additional 2,130 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of CARR stock traded down $0.69 during trading hours on Tuesday, hitting $80.69. The company had a trading volume of 1,228,681 shares, compared to its average volume of 4,107,317. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The firm has a market capitalization of $72.70 billion, a price-to-earnings ratio of 56.20, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $83.32. The firm’s fifty day moving average is $75.66 and its 200 day moving average is $67.48.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. On average, sell-side analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 53.15%.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CARR. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective on the stock. Robert W. Baird lowered their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Wells Fargo & Company upped their target price on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Carrier Global Company Profile

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.