Independence Bank of Kentucky Buys 2,800 Shares of Carrier Global Co. (NYSE:CARR)

Independence Bank of Kentucky increased its stake in shares of Carrier Global Co. (NYSE:CARR) by 237.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,981 shares of the company’s stock after purchasing an additional 2,800 shares during the quarter. Independence Bank of Kentucky’s holdings in Carrier Global were worth $251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB lifted its stake in shares of Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after acquiring an additional 43,002 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Carrier Global in the fourth quarter valued at approximately $973,000. Versor Investments LP purchased a new stake in shares of Carrier Global in the fourth quarter valued at approximately $1,132,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Carrier Global by 50.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock worth $22,687,000 after purchasing an additional 130,192 shares during the period. Finally, GLOBALT Investments LLC GA bought a new stake in Carrier Global during the 4th quarter valued at $859,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 2.4 %

Shares of Carrier Global stock opened at $71.25 on Monday. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $71.52. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market cap of $64.20 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32. The firm has a fifty day moving average price of $65.63 and a 200 day moving average price of $61.47.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were given a $0.19 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.07%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Robert W. Baird cut their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $72.00 in a research note on Monday, July 29th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Barclays upped their price objective on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Finally, Oppenheimer increased their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and an average price target of $67.08.

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.95% of the stock is owned by insiders.

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.