Pitcairn Co. Purchases 292 Shares of Carrier Global Co. (NYSE:CARR)

Pitcairn Co. grew its position in Carrier Global Co. (NYSE:CARR) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,919 shares of the company’s stock after purchasing an additional 292 shares during the quarter. Pitcairn Co.’s holdings in Carrier Global were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of Carrier Global in the fourth quarter worth $25,000. EdgeRock Capital LLC purchased a new position in shares of Carrier Global in the fourth quarter worth $27,000. Criterion Capital Advisors LLC purchased a new position in shares of Carrier Global in the fourth quarter worth $32,000. Finally, Planned Solutions Inc. purchased a new position in shares of Carrier Global in the fourth quarter worth $33,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 1.8 %

CARR stock traded down $1.16 during mid-day trading on Thursday, reaching $64.83. 7,578,626 shares of the stock traded hands, compared to its average volume of 4,472,972. 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 one year low of $45.68 and a one year high of $70.09. The stock has a market capitalization of $58.41 billion, a PE ratio of 46.15, a PEG ratio of 2.66 and a beta of 1.32. The business has a 50-day moving average price of $64.50 and a two-hundred day moving average price of $59.79.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Equities research analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, June 21st. Carrier Global’s payout ratio is presently 53.15%.

Insider Transactions at Carrier Global

In other news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the transaction, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,954 shares of company stock worth $16,650,050. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

CARR has been the topic of several research analyst reports. Oppenheimer boosted their target price on shares of Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Barclays upped their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Robert W. Baird raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and upped their price target for the company from $64.00 to $75.00 in a research note on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and an average price target of $64.93.

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.