Valley Brook Capital Group Inc. Reduces Stock Holdings in Carrier Global Co. (NYSE:CARR)

Valley Brook Capital Group Inc. lessened its stake in Carrier Global Co. (NYSE:CARR) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,518 shares of the company’s stock after selling 275 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Carrier Global were worth $777,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. increased its holdings in shares of Carrier Global by 0.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 19,474 shares of the company’s stock valued at $1,119,000 after buying an additional 181 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Carrier Global by 1.9% during the fourth quarter. Graypoint LLC now owns 9,752 shares of the company’s stock valued at $560,000 after purchasing an additional 184 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Carrier Global by 16.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,450 shares of the company’s stock valued at $80,000 after purchasing an additional 200 shares during the period. Operose Advisors LLC increased its stake in Carrier Global by 44.4% in the 3rd quarter. Operose Advisors LLC now owns 650 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Boston Financial Mangement LLC raised its holdings in Carrier Global by 2.2% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,399 shares of the company’s stock worth $519,000 after buying an additional 201 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CARR. Citigroup lifted their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada cut their target price 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. 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. Robert W. Baird upped their price target on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday. Finally, TD Cowen raised their price objective on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.71.

Carrier Global Stock Up 1.9 %

NYSE:CARR traded up $1.15 during mid-day trading on Friday, reaching $62.09. The stock had a trading volume of 3,622,875 shares, compared to its average volume of 4,988,253. The stock has a market cap of $55.94 billion, a P/E ratio of 43.42, a PEG ratio of 2.61 and a beta of 1.34. The business’s 50 day moving average is $57.32 and its 200 day moving average is $55.14. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. Carrier Global Co. has a fifty-two week low of $40.28 and a fifty-two week high of $63.79.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 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 company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. As a group, sell-side analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.22%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the business’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 disclosure for this sale can be found here. Insiders sold 541,005 shares of company stock valued at $30,536,214 over the last quarter. Insiders own 6.95% of the company’s stock.

Carrier Global Company 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.