Kestra Advisory Services LLC Purchases 40,612 Shares of Carrier Global Corporation $CARR

Kestra Advisory Services LLC raised its position in shares of Carrier Global Corporation (NYSE:CARR) by 24.3% in the third quarter, Holdings Channel.com reports. The fund owned 207,980 shares of the company’s stock after acquiring an additional 40,612 shares during the quarter. Kestra Advisory Services LLC’s holdings in Carrier Global were worth $11,410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in shares of Carrier Global in the second quarter worth approximately $590,759,000. Bank of America Corp DE purchased a new position in Carrier Global in the 2nd quarter valued at $572,908,000. Dimensional Fund Advisors LP lifted its holdings in Carrier Global by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after purchasing an additional 246,723 shares in the last quarter. Legal & General Group Plc purchased a new position in Carrier Global in the 2nd quarter valued at $322,366,000. Finally, Primecap Management Co. CA acquired a new stake in Carrier Global during the 2nd quarter worth $283,585,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock opened at $53.38 on Tuesday. The firm has a 50 day simple moving average of $55.77 and a 200-day simple moving average of $61.65. Carrier Global Corporation has a 1-year low of $50.24 and a 1-year high of $76.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.68. The stock has a market cap of $43.68 billion, a price-to-earnings ratio of -24.05, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.09 billion. Carrier Global had a negative net margin of 7.90% and a positive return on equity of 16.99%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 EPS. On average, analysts expect that Carrier Global Corporation will post 2.86 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, October 29th. Carrier Global’s dividend payout ratio is presently -43.24%.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research reports. BNP Paribas Exane dropped their target price on shares of Carrier Global from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Citigroup reduced their target price on shares of Carrier Global from $80.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Robert W. Baird decreased their price target on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, November 2nd. JPMorgan Chase & Co. lowered their price target on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Finally, Zacks Research cut shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.27.

About Carrier Global

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage.

The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.

Carrier traces its origins to 1915, when Willis Carrier founded the company that pioneered modern air conditioning.