Carrier Global Co. (NYSE:CARR) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 13.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,730 shares of the company’s stock after buying an additional 697 shares during the quarter. Procyon Advisors LLC’s holdings in Carrier Global were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Koshinski Asset Management Inc. acquired a new stake in shares of Carrier Global during the third quarter worth approximately $201,000. CHICAGO TRUST Co NA boosted its holdings in Carrier Global by 11.4% in the third quarter. CHICAGO TRUST Co NA now owns 4,089 shares of the company’s stock worth $329,000 after purchasing an additional 419 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Carrier Global by 69.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,187 shares of the company’s stock worth $96,000 after purchasing an additional 487 shares during the period. InTrack Investment Management Inc boosted its holdings in Carrier Global by 114.0% in the third quarter. InTrack Investment Management Inc now owns 8,570 shares of the company’s stock worth $690,000 after purchasing an additional 4,565 shares during the period. Finally, Avity Investment Management Inc. boosted its holdings in Carrier Global by 95.4% in the third quarter. Avity Investment Management Inc. now owns 240,799 shares of the company’s stock worth $19,382,000 after purchasing an additional 117,545 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Price Performance

Shares of NYSE CARR opened at $81.60 on Wednesday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The firm’s 50-day simple moving average is $74.28 and its 200 day simple moving average is $66.78. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock has a market cap of $73.52 billion, a P/E ratio of 57.06, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. 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 business’s stock in a transaction dated 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 sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.95% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Morgan Stanley initiated coverage on shares of Carrier Global in a report on Friday, September 6th. They set an “equal weight” rating and a $75.00 price target for the company. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.50.

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.