Cetera Advisors LLC Acquires 21,863 Shares of Carrier Global Co. (NYSE:CARR)

Cetera Advisors LLC lifted its holdings in Carrier Global Co. (NYSE:CARR) by 48.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,181 shares of the company’s stock after buying an additional 21,863 shares during the quarter. Cetera Advisors LLC’s holdings in Carrier Global were worth $3,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 86.7% during 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 4th quarter valued at $25,000. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the 4th quarter valued at $27,000. Criterion Capital Advisors LLC bought a new stake in shares of Carrier Global during the fourth quarter worth $32,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Carrier Global during the first quarter valued at $34,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Buying and Selling

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

Carrier Global Stock Down 3.1 %

NYSE:CARR traded down $2.07 on Friday, hitting $63.99. 3,556,949 shares of the company’s stock were exchanged, compared to its average volume of 3,753,714. The firm has a 50-day moving average price of $64.64 and a 200-day moving average price of $60.27. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $70.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The company has a market cap of $57.77 billion, a P/E ratio of 44.75, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $6.70 billion for 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%. Carrier Global’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. As a group, analysts expect that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on CARR. Bank of America raised Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $72.00 in a report on Monday, July 29th. TD Cowen increased their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $72.00 price target on shares of Carrier Global in a research note on Friday, July 26th. Finally, Oppenheimer dropped their price objective on Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Carrier Global has an average rating of “Hold” and an average price target of $66.77.

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.