EdgeRock Capital LLC Buys New Position in Carrier Global Co. (NYSE:CARR)

EdgeRock Capital LLC bought a new stake in Carrier Global Co. (NYSE:CARR) during the 4th quarter, Holdings Channel.com reports. The firm bought 476 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Pacific Capital Wealth Advisors Inc. bought a new stake in Carrier Global in the fourth quarter valued at approximately $45,000. Sovereign Financial Group Inc. boosted its holdings in shares of Carrier Global by 4.7% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,224 shares of the company’s stock worth $243,000 after buying an additional 188 shares in the last quarter. Peddock Capital Advisors LLC boosted its holdings in shares of Carrier Global by 7.3% during the 4th quarter. Peddock Capital Advisors LLC now owns 5,506 shares of the company’s stock worth $316,000 after buying an additional 376 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Carrier Global by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,628,389 shares of the company’s stock worth $265,901,000 after buying an additional 52,212 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Carrier Global by 24.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 144,034 shares of the company’s stock worth $8,275,000 after buying an additional 28,699 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Insider Activity at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The disclosure for this sale can be found here. In the last three months, insiders sold 541,005 shares of company stock valued at $30,536,214. 6.95% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on CARR shares. TD Cowen increased their price target on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Oppenheimer increased their price target on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Barclays increased their price target on Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Wells Fargo & Company increased 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, Royal Bank of Canada cut their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carrier Global has a consensus rating of “Hold” and an average price target of $62.71.

Carrier Global Stock Up 0.1 %

NYSE CARR traded up $0.06 on Wednesday, reaching $64.32. The company had a trading volume of 2,296,825 shares, compared to its average volume of 4,836,045. The stock has a market capitalization of $57.95 billion, a P/E ratio of 44.97, a P/E/G ratio of 2.61 and a beta of 1.34. The company’s fifty day moving average is $57.71 and its 200 day moving average is $55.36. Carrier Global Co. has a 52-week low of $40.49 and a 52-week high of $64.69. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31.

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

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is currently 53.15%.

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.