GAMMA Investing LLC Purchases New Stake in Carrier Global Co. (NYSE:CARR)

GAMMA Investing LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,839 shares of the company’s stock, valued at approximately $484,000.

Other institutional investors also recently modified their holdings of the company. C WorldWide Group Holding A S acquired a new position in shares of Carrier Global during the 3rd quarter worth about $260,761,000. Impax Asset Management Group plc grew its holdings in Carrier Global by 6,362.1% during the third quarter. Impax Asset Management Group plc now owns 2,236,841 shares of the company’s stock valued at $123,474,000 after purchasing an additional 2,202,226 shares during the period. Envestnet Asset Management Inc. increased its stake in Carrier Global by 103.2% in the third quarter. Envestnet Asset Management Inc. now owns 2,600,774 shares of the company’s stock valued at $143,563,000 after purchasing an additional 1,320,621 shares in the last quarter. FMR LLC raised its holdings in Carrier Global by 18.3% in the third quarter. FMR LLC now owns 6,666,775 shares of the company’s stock worth $368,006,000 after purchasing an additional 1,033,484 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Carrier Global during the third quarter worth $48,735,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CARR has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Citigroup increased their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company dropped their price target on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 price objective on shares of Carrier Global in a research report on Thursday, April 18th. Finally, Barclays lifted their target price on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.15.

Carrier Global Stock Performance

CARR stock traded down $0.51 during mid-day trading on Wednesday, hitting $54.63. 2,188,240 shares of the company were exchanged, compared to its average volume of 4,686,128. The stock has a market capitalization of $49.17 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39. The business has a 50 day simple moving average of $56.34 and a 200-day simple moving average of $54.76. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. Carrier Global Co. has a 1-year low of $40.28 and a 1-year high of $60.87.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. Carrier Global’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, equities analysts forecast that Carrier Global Co. will post 2.82 earnings per share for the current year.

Carrier Global Announces Dividend

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 given a $0.19 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.39%. Carrier Global’s dividend payout ratio is currently 48.10%.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares in the company, valued at $3,553,282.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction 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 transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Company 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.