Transcend Capital Advisors LLC Increases Stake in Carrier Global Co. (NYSE:CARR)

Transcend Capital Advisors LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 85.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,468 shares of the company’s stock after acquiring an additional 2,982 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Carrier Global were worth $408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CARR. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 86.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Carrier Global during the fourth quarter valued at $25,000. EdgeRock Capital LLC purchased a new stake in Carrier Global during the fourth quarter valued at $27,000. Criterion Capital Advisors LLC purchased a new position in shares of Carrier Global in the 4th quarter worth $32,000. Finally, United Community Bank bought a new stake in shares of Carrier Global in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Buying and Selling at Carrier Global

In other news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the transaction, the vice president now owns 85,028 shares in the company, valued at $5,560,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Kyle Crockett sold 4,611 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the transaction, the vice president now directly owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Carrier Global Price Performance

Shares of NYSE:CARR traded down $2.07 on Friday, hitting $63.99. The company had a trading volume of 3,556,949 shares, compared to its average volume of 3,753,714. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09. The business has a 50 day moving average of $64.64 and a 200 day moving average of $60.27. The company has a market cap of $57.77 billion, a PE ratio of 44.75, a PEG ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, equities analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

CARR has been the subject of several research analyst reports. Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $72.00 in a research note on Monday, July 29th. Oppenheimer lowered their price objective on Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Barclays boosted their price target on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Finally, Robert W. Baird dropped their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global has a consensus rating of “Hold” and an average target price of $66.77.

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.