Massmutual Trust Co. FSB ADV Purchases 1,078 Shares of Carrier Global Co. (NYSE:CARR)

Massmutual Trust Co. FSB ADV lifted its holdings in Carrier Global Co. (NYSE:CARR) by 34.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,202 shares of the company’s stock after purchasing an additional 1,078 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Carrier Global were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CARR. Trust Point Inc. bought a new stake in Carrier Global during the 4th quarter valued at $240,000. Private Trust Co. NA boosted its holdings in shares of Carrier Global by 9.8% during the 4th quarter. Private Trust Co. NA now owns 9,779 shares of the company’s stock worth $562,000 after purchasing an additional 872 shares during the last quarter. Arkadios Wealth Advisors increased its position in Carrier Global by 6.9% during the fourth quarter. Arkadios Wealth Advisors now owns 10,288 shares of the company’s stock worth $591,000 after purchasing an additional 661 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in Carrier Global by 156.1% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 14,113 shares of the company’s stock valued at $811,000 after purchasing an additional 8,603 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its stake in Carrier Global by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 67,005 shares of the company’s stock worth $3,849,000 after buying an additional 778 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction that occurred on Tuesday, May 21st. The stock was 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 approximately $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction that occurred 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 directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Carrier Global Price Performance

CARR traded down $0.41 on Monday, hitting $63.58. 5,120,923 shares of the company’s stock traded hands, compared to its average volume of 4,437,284. The company’s 50 day simple moving average is $64.64 and its 200-day simple moving average is $60.31. The firm has a market cap of $57.40 billion, a price-to-earnings ratio of 43.00, a P/E/G ratio of 2.63 and a beta of 1.32. Carrier Global Co. has a one year low of $45.68 and a one year high of $70.09. 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 (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the prior year, the business posted $0.79 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, research analysts anticipate that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CARR. Royal Bank of Canada reiterated an “outperform” rating and issued a $72.00 price objective on shares of Carrier Global in a research report on Friday, July 26th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. TD Cowen boosted their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company upped their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Barclays upped their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.