SeaCrest Wealth Management LLC Makes New Investment in Carrier Global Co. (NYSE:CARR)

SeaCrest Wealth Management LLC bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,266 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marathon Capital Management lifted its position in Carrier Global by 4.1% during the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock valued at $247,000 after acquiring an additional 156 shares during the period. Savant Capital LLC boosted its position in shares of Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares in the last quarter. Founders Capital Management LLC grew its stake in shares of Carrier Global by 3.4% in the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after buying an additional 175 shares during the last quarter. Valeo Financial Advisors LLC increased its position in Carrier Global by 1.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 12,244 shares of the company’s stock valued at $986,000 after buying an additional 179 shares in the last quarter. Finally, Manchester Capital Management LLC raised its stake in Carrier Global by 4.3% during the first quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock valued at $255,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $81.55 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $83.32. The company has a market cap of $73.48 billion, a P/E ratio of 57.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The stock’s fifty day moving average price is $75.32 and its 200-day moving average price is $67.15.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, October 25th. Carrier Global’s payout ratio is 53.15%.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CARR. Stephens cut Carrier Global from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $75.00 to $85.00 in a research note on Wednesday. Barclays increased their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley began coverage on shares of Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Oppenheimer boosted their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

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.