GPM Growth Investors Inc. Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

GPM Growth Investors Inc. lessened its stake in Carrier Global Co. (NYSE:CARR) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,014 shares of the company’s stock after selling 1,203 shares during the period. Carrier Global accounts for approximately 3.0% of GPM Growth Investors Inc.’s investment portfolio, making the stock its 15th largest holding. GPM Growth Investors Inc.’s holdings in Carrier Global were worth $6,320,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its position in shares of Carrier Global by 5.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the company’s stock worth $584,000 after buying an additional 584 shares during the last quarter. PDS Planning Inc acquired a new position in shares of Carrier Global during the third quarter worth $205,000. ST Germain D J Co. Inc. lifted its holdings in shares of Carrier Global by 9.9% during the 3rd quarter. ST Germain D J Co. Inc. now owns 6,355 shares of the company’s stock valued at $351,000 after purchasing an additional 570 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of Carrier Global in the 3rd quarter worth $209,000. Finally, Mission Wealth Management LP purchased a new position in Carrier Global during the 3rd quarter worth $326,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

Shares of CARR stock traded down $0.92 during mid-day trading on Tuesday, hitting $61.79. 3,613,509 shares of the stock were exchanged, compared to its average volume of 4,852,459. The company has a market cap of $55.67 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39. Carrier Global Co. has a 52-week low of $40.28 and a 52-week high of $63.79. The firm has a fifty day moving average of $56.72 and a 200 day moving average of $54.88. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31.

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

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Activity at Carrier Global

In related 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 value of $1,427,647.27. Following the transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of research analyst reports. Oppenheimer raised their price target on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup increased their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Barclays boosted their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada decreased their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and an average target price of $62.62.

About Carrier Global

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.