Eastern Bank Invests $1.53 Million in Carrier Global Co. (NYSE:CARR)

Eastern Bank purchased a new position in shares of Carrier Global Co. (NYSE:CARR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,942 shares of the company’s stock, valued at approximately $1,525,000.

A number of other hedge funds have also recently made changes to their positions in CARR. Marathon Capital Management raised its stake in Carrier Global by 4.1% in the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after buying an additional 156 shares in the last quarter. Savant Capital LLC increased its holdings in shares of Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after purchasing an additional 162 shares during the period. Foundations Investment Advisors LLC lifted its stake in Carrier Global by 2.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock valued at $465,000 after acquiring an additional 163 shares during the period. Founders Capital Management LLC grew its position in Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after purchasing an additional 175 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in Carrier Global by 1.5% during the third 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 during the period. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $80.16 on Wednesday. Carrier Global Co. has a one year low of $45.68 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The firm has a market capitalization of $72.23 billion, a price-to-earnings ratio of 56.06, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The stock’s fifty day moving average is $75.95 and its 200-day moving average is $67.64.

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 analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. Equities analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is currently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CARR. Oppenheimer upped their target price 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. Mizuho increased their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Stephens lowered Carrier Global from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $75.00 to $85.00 in a research report on Wednesday, October 16th. Finally, Barclays boosted their price objective on Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Seven research 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 stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Carrier Global Company 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.