Moss Adams Wealth Advisors LLC Raises Stake in Carrier Global Co. (NYSE:CARR)

Moss Adams Wealth Advisors LLC increased its holdings in Carrier Global Co. (NYSE:CARR) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,089 shares of the company’s stock after buying an additional 659 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Carrier Global were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Carrier Global during the 4th quarter worth about $209,000. RFG Advisory LLC grew its holdings in Carrier Global by 14.9% during the first quarter. RFG Advisory LLC now owns 5,779 shares of the company’s stock worth $336,000 after acquiring an additional 749 shares during the period. Gulf International Bank UK Ltd raised its position in Carrier Global by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 69,001 shares of the company’s stock valued at $4,011,000 after acquiring an additional 440 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Carrier Global by 6.8% in the first quarter. International Assets Investment Management LLC now owns 10,309 shares of the company’s stock valued at $592,000 after acquiring an additional 659 shares during the period. Finally, Ballentine Partners LLC boosted its position in Carrier Global by 35.7% in the 1st quarter. Ballentine Partners LLC now owns 13,524 shares of the company’s stock worth $786,000 after purchasing an additional 3,556 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is currently owned by company insiders.

Carrier Global Trading Up 0.1 %

Shares of CARR stock opened at $81.55 on Friday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock’s fifty day moving average is $75.32 and its two-hundred day moving average is $67.22. The firm has a market capitalization of $73.48 billion, a P/E ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts expect 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 Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. Carrier Global’s dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

CARR has been the subject of several recent research reports. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Wells Fargo & Company upped their price objective on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Morgan Stanley started coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, Robert W. Baird dropped their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

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.