Norden Group LLC Makes New Investment in Carrier Global Co. (NYSE:CARR)

Norden Group LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 68,496 shares of the company’s stock, valued at approximately $3,982,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Capital Research Global Investors increased its position in shares of Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares during the last quarter. Capital International Investors increased its holdings in Carrier Global by 0.6% in the fourth quarter. Capital International Investors now owns 81,063,464 shares of the company’s stock valued at $4,657,260,000 after buying an additional 443,568 shares during the last quarter. Fisher Asset Management LLC raised its stake in Carrier Global by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after buying an additional 310,453 shares in the last quarter. Norges Bank acquired a new stake in Carrier Global during the fourth quarter valued at approximately $444,487,000. Finally, PineStone Asset Management Inc. lifted its holdings in Carrier Global by 21.6% during the 4th quarter. PineStone Asset Management Inc. now owns 4,752,550 shares of the company’s stock worth $273,034,000 after buying an additional 845,622 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

CARR stock opened at $63.41 on Thursday. The company has a 50-day simple moving average of $63.67 and a 200 day simple moving average of $58.83. The company has a market capitalization of $57.13 billion, a P/E ratio of 44.34, a PEG ratio of 2.45 and a beta of 1.32. 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 fifty-two week low of $45.68 and a fifty-two week high of $66.50.

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, topping analysts’ consensus estimates of $0.50 by $0.12. The company had revenue of $6.18 billion during 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%. Sell-side analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. TD Cowen boosted their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Wells Fargo & Company raised their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Oppenheimer upped their target price on Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Finally, Barclays boosted their price objective on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.14.

Insider Activity

In other news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction on Monday, April 29th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,954 shares of company stock worth $16,650,050. 6.95% of the stock is owned by company insiders.

Carrier Global 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.