GAMMA Investing LLC Raises Stock Holdings in Carrier Global Co. (NYSE:CARR)

GAMMA Investing LLC raised its position in shares of Carrier Global Co. (NYSE:CARR) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,942 shares of the company’s stock after purchasing an additional 1,103 shares during the quarter. GAMMA Investing LLC’s holdings in Carrier Global were worth $578,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors increased its stake in Carrier Global by 3.3% during the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after buying an additional 2,961,923 shares in the last quarter. Capital International Investors boosted its stake in Carrier Global by 0.6% during the 4th quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock worth $4,657,260,000 after purchasing an additional 443,568 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Carrier Global by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock worth $764,500,000 after buying an additional 310,453 shares in the last quarter. Northern Trust Corp raised its holdings in Carrier Global by 3.4% in the 3rd quarter. Northern Trust Corp now owns 8,941,301 shares of the company’s stock valued at $493,560,000 after acquiring an additional 289,973 shares during the last quarter. Finally, Norges Bank purchased a new position in Carrier Global during the fourth quarter worth approximately $444,487,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,954 shares of company stock worth $16,650,050. Company insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CARR. Oppenheimer lifted their target price on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird upped their price objective on Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Wells Fargo & Company raised their target price on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Citigroup upped their price target on Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Barclays boosted their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.86.

Carrier Global Stock Performance

Shares of CARR stock opened at $65.72 on Thursday. The firm has a 50 day moving average of $61.98 and a two-hundred day moving average of $58.26. The stock has a market capitalization of $59.21 billion, a PE ratio of 45.96, a P/E/G ratio of 2.65 and a beta of 1.33. 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 Co. has a 52 week low of $45.68 and a 52 week high of $66.50.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. On average, research analysts predict that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio is presently 53.15%.

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.