Mountain Pacific Investment Advisers Inc. ID Boosts Stake in Carrier Global Co. (NYSE:CARR)

Mountain Pacific Investment Advisers Inc. ID lifted its stake in Carrier Global Co. (NYSE:CARR) by 18.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,730 shares of the company’s stock after purchasing an additional 1,645 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in Carrier Global were worth $616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beese Fulmer Investment Management Inc. increased its stake in Carrier Global by 0.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock worth $1,119,000 after buying an additional 181 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Carrier Global by 1.9% in the 4th quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after acquiring an additional 184 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of 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 valued at $80,000 after acquiring an additional 200 shares during the last quarter. Operose Advisors LLC lifted its holdings in shares of Carrier Global by 44.4% in the 3rd quarter. Operose Advisors LLC now owns 650 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. Finally, Boston Financial Mangement LLC lifted its holdings in shares of Carrier Global by 2.2% in the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock valued at $519,000 after acquiring an additional 201 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

Carrier Global stock opened at $60.50 on Friday. The company has a 50 day moving average price of $56.54 and a 200-day moving average price of $54.83. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.40 and a current ratio of 1.36. Carrier Global Co. has a fifty-two week low of $40.28 and a fifty-two week high of $60.87. The company has a market capitalization of $54.46 billion, a PE ratio of 42.31, a P/E/G ratio of 2.53 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.27 billion. As a group, equities analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Insider Activity at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction 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 directly owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday. Oppenheimer raised their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada decreased their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Barclays raised their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup raised their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.00.

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.