Ballentine Partners LLC Grows Stock Position in Carrier Global Co. (NYSE:CARR)

Ballentine Partners LLC boosted its stake in shares of Carrier Global Co. (NYSE:CARR) by 35.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,524 shares of the company’s stock after purchasing an additional 3,556 shares during the quarter. Ballentine Partners LLC’s holdings in Carrier Global were worth $786,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its stake 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 purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Carrier Global during the 4th quarter worth about $25,000. EdgeRock Capital LLC purchased a new stake in Carrier Global during the fourth quarter worth approximately $27,000. VisionPoint Advisory Group LLC acquired a new position in Carrier Global in the third quarter valued at approximately $30,000. Finally, Criterion Capital Advisors LLC purchased a new position in Carrier Global in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

CARR traded up $0.66 during trading on Monday, reaching $63.54. 253,564 shares of the stock were exchanged, compared to its average volume of 4,491,659. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market capitalization of $57.25 billion, a price-to-earnings ratio of 44.86, a P/E/G ratio of 2.59 and a beta of 1.33. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $66.50. The business’s 50 day moving average price is $62.25 and its two-hundred day moving average price is $58.44.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. As a group, equities research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Insider Buying and Selling

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 262,954 shares of company stock worth $16,650,050. 6.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CARR has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target 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, April 26th. TD Cowen raised their price target on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Barclays lifted their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $74.00 in a research report on Monday. Finally, Oppenheimer lifted their target price on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Hold” and a consensus price target of $63.64.

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.