Crewe Advisors LLC Purchases New Shares in Carrier Global Co. (NYSE:CARR)

Crewe Advisors LLC purchased a new stake in Carrier Global Co. (NYSE:CARR) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,504 shares of the company’s stock, valued at approximately $146,000.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global during the fourth quarter worth about $25,000. EdgeRock Capital LLC bought a new stake in Carrier Global during the fourth quarter worth about $27,000. Criterion Capital Advisors LLC bought a new stake in Carrier Global during the fourth quarter worth about $32,000. Finally, Planned Solutions Inc. bought a new stake in Carrier Global during the fourth quarter worth about $33,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carrier Global

In other news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,954 shares of company stock valued at $16,650,050. 6.95% of the stock is currently owned by company insiders.

Carrier Global Trading Down 1.7 %

NYSE CARR traded down $1.15 during trading hours on Thursday, reaching $64.84. The company’s stock had a trading volume of 7,590,020 shares, compared to its average volume of 4,473,047. The stock has a market cap of $58.42 billion, a P/E ratio of 45.34, a P/E/G ratio of 2.66 and a beta of 1.32. The firm has a fifty day simple moving average of $64.49 and a 200-day simple moving average of $59.82. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $70.09.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Equities analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CARR shares. TD Cowen upped their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Oppenheimer increased their target price on shares of Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Barclays increased their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Hold” and an average target price of $64.93.

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.