Greenleaf Trust Increases Holdings in Carrier Global Co. (NYSE:CARR)

Greenleaf Trust raised its stake in Carrier Global Co. (NYSE:CARR) by 1.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,204 shares of the company’s stock after buying an additional 256 shares during the period. Greenleaf Trust’s holdings in Carrier Global were worth $1,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CARR. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $255,000. Liberty Capital Management Inc. grew its position in Carrier Global by 1.1% in the third quarter. Liberty Capital Management Inc. now owns 27,892 shares of the company’s stock worth $2,245,000 after acquiring an additional 317 shares during the period. Waldron Private Wealth LLC increased its stake in Carrier Global by 10.9% during the third quarter. Waldron Private Wealth LLC now owns 8,678 shares of the company’s stock worth $698,000 after acquiring an additional 855 shares during the last quarter. Eastern Bank purchased a new stake in Carrier Global in the third quarter valued at $1,525,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Carrier Global by 12.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 14,697 shares of the company’s stock valued at $1,183,000 after purchasing an additional 1,600 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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 price objective on the stock. Bank of America boosted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company upped 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. Royal Bank of Canada lifted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Seven investment 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 data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and an average target price of $80.67.

Carrier Global Stock Performance

Shares of CARR stock opened at $79.95 on Thursday. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $72.04 billion, a P/E ratio of 55.91, a PEG ratio of 2.94 and a beta of 1.32. The firm has a fifty day moving average price of $76.24 and a 200 day moving average price of $67.73.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The business 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%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. Sell-side analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a $0.19 dividend. 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 payout ratio is 53.15%.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction 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 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 is available at this hyperlink. Insiders own 6.95% of the company’s stock.

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.