B. Riley Wealth Advisors Inc. Has $2.23 Million Stock Position in Carrier Global Co. (NYSE:CARR)

B. Riley Wealth Advisors Inc. lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 203.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,429 shares of the company’s stock after purchasing an additional 27,100 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Carrier Global were worth $2,232,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its position in Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Carrier Global in the fourth quarter valued at about $25,000. EdgeRock Capital LLC bought a new position in Carrier Global in the fourth quarter valued at about $27,000. Criterion Capital Advisors LLC bought a new position in Carrier Global in the fourth quarter valued at about $32,000. Finally, Register Financial Advisors LLC bought a new position in Carrier Global in the first quarter valued at about $34,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Price Performance

Shares of CARR traded up $0.67 during midday trading on Wednesday, reaching $68.10. The stock had a trading volume of 3,509,547 shares, compared to its average volume of 4,447,026. The company’s 50-day moving average is $64.58 and its 200 day moving average is $60.09. Carrier Global Co. has a 12-month low of $45.68 and a 12-month 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. The company has a market capitalization of $61.48 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 2.70 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) 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 earned $0.79 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen raised their target price on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Wells Fargo & Company raised their price objective on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $72.00 in a research note on Monday. Finally, Barclays raised their price objective on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.86.

Insider Activity

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the company’s 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 owns 85,028 shares in the company, valued at approximately $5,560,831.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

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.