Carrier Global Co. (NYSE:CARR) Stake Increased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in Carrier Global Co. (NYSE:CARR) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,489,686 shares of the company’s stock after purchasing an additional 16,950 shares during the period. Russell Investments Group Ltd. owned approximately 0.18% of Carrier Global worth $85,624,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CARR. McClarren Financial Advisors Inc. raised its holdings 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 worth $25,000 after acquiring an additional 202 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Carrier Global during the third quarter worth $28,000. Larson Financial Group LLC raised its holdings in Carrier Global by 76.2% during the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after buying an additional 221 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in Carrier Global during the third quarter valued at about $30,000. Finally, Criterion Capital Advisors LLC bought a new position in Carrier Global during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Buying and Selling

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,553,282.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Carrier Global Stock Performance

CARR stock traded up $0.69 during trading on Friday, reaching $60.50. 6,684,176 shares of the stock were exchanged, compared to its average volume of 4,318,700. Carrier Global Co. has a twelve month low of $40.28 and a twelve month high of $60.87. The company has a market capitalization of $54.46 billion, a P/E ratio of 42.31, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39. The stock has a 50 day simple moving average of $56.54 and a 200-day simple moving average of $54.83. The company has a current ratio of 1.36, a quick ratio of 2.40 and a debt-to-equity ratio of 1.31.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. As a group, sell-side analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday. Oppenheimer raised their target price on Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Friday. Citigroup raised their target price on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada cut their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Barclays raised their target price on Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Friday. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.00.

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.