Private Advisor Group LLC Cuts Position in Carrier Global Co. (NYSE:CARR)

Private Advisor Group LLC reduced its position in shares of Carrier Global Co. (NYSE:CARR) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,744 shares of the company’s stock after selling 523 shares during the period. Private Advisor Group LLC’s holdings in Carrier Global were worth $5,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CARR. McClarren Financial Advisors Inc. grew its stake in Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Carrier Global during the fourth quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in Carrier Global in the third quarter valued at approximately $28,000. Larson Financial Group LLC lifted its stake in Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock worth $28,000 after acquiring an additional 221 shares during the last quarter. Finally, VisionPoint Advisory Group LLC acquired a new position in Carrier Global during the 3rd quarter worth approximately $30,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays increased their target price on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, April 26th. TD Cowen boosted their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. 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 research note on Friday, April 26th. Robert W. Baird upped their target price on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada cut 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 note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus target price of $62.71.

Carrier Global Stock Performance

Shares of CARR opened at $64.32 on Thursday. The stock has a market capitalization of $57.95 billion, a P/E ratio of 44.98, a P/E/G ratio of 2.61 and a beta of 1.34. 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 Co. has a 1 year low of $40.49 and a 1 year high of $64.69. The company’s fifty day moving average is $57.71 and its two-hundred day moving average is $55.36.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (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 during the quarter, compared to analysts’ expectations of $6.27 billion. On average, sell-side analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

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 given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Carrier Global 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.