Raymond James & Associates Has $86.88 Million Stock Position in Carrier Global Co. (NYSE:CARR)

Raymond James & Associates lessened its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,079,380 shares of the company’s stock after selling 24,359 shares during the period. Raymond James & Associates’ holdings in Carrier Global were worth $86,879,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of Carrier Global by 142.9% in the third quarter. Blue Trust Inc. now owns 5,958 shares of the company’s stock worth $480,000 after acquiring an additional 3,505 shares during the period. Moss Adams Wealth Advisors LLC raised its holdings in Carrier Global by 19.2% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 4,089 shares of the company’s stock worth $329,000 after purchasing an additional 659 shares during the last quarter. Inspire Advisors LLC acquired a new position in shares of Carrier Global in the 3rd quarter worth approximately $212,000. V Square Quantitative Management LLC boosted its stake in shares of Carrier Global by 13.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 17,289 shares of the company’s stock valued at $1,392,000 after purchasing an additional 2,116 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Carrier Global by 2.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 83,834 shares of the company’s stock worth $6,748,000 after buying an additional 1,802 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 0.1 %

Shares of CARR stock opened at $81.55 on Monday. 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 company has a market capitalization of $73.48 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $83.32. The company has a 50-day simple moving average of $75.32 and a two-hundred day simple moving average of $67.30.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during 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 quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. Research analysts anticipate that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders 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 payout ratio is 53.15%.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’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 in the company, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.95% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Mizuho increased their price objective on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley began coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Bank of America increased their price target on Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Robert W. Baird decreased their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.