Gabelli Funds LLC Buys 182,232 Shares of Carrier Global Co. (NYSE:CARR)

Gabelli Funds LLC lifted its stake in shares of Carrier Global Co. (NYSE:CARR) by 72.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,652 shares of the company’s stock after purchasing an additional 182,232 shares during the quarter. Gabelli Funds LLC’s holdings in Carrier Global were worth $25,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CARR. Brookstone Capital Management lifted its position in Carrier Global by 5.7% in the 4th quarter. Brookstone Capital Management now owns 4,968 shares of the company’s stock valued at $285,000 after acquiring an additional 269 shares in the last quarter. CVA Family Office LLC bought a new position in Carrier Global in the 4th quarter valued at about $97,000. Pacer Advisors Inc. lifted its position in Carrier Global by 34.3% in the 4th quarter. Pacer Advisors Inc. now owns 72,863 shares of the company’s stock valued at $4,186,000 after acquiring an additional 18,589 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in Carrier Global in the 4th quarter valued at about $275,000. Finally, Assenagon Asset Management S.A. lifted its position in Carrier Global by 128.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 66,036 shares of the company’s stock valued at $3,794,000 after acquiring an additional 37,153 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR stock traded up $1.94 during trading hours on Friday, hitting $66.77. 4,351,536 shares of the company were exchanged, compared to its average volume of 4,160,366. The firm has a fifty day simple moving average of $64.53 and a 200 day simple moving average of $59.89. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.80. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09. The stock has a market capitalization of $60.16 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 2.52 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released 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 during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business earned $0.79 EPS. Carrier Global’s revenue was up 11.7% compared to the same quarter last year. Research analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.14%. Carrier Global’s dividend payout ratio is 53.15%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CARR shares. Robert W. Baird dropped their price target 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. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Barclays lifted their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, Oppenheimer dropped their target price on shares of Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.64.

Insider Activity at Carrier Global

In related news, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares in the company, valued at approximately $5,560,831.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Nadia Villeneuve sold 98,428 shares of Carrier Global stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the sale, the vice president now directly owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,954 shares of company stock worth $16,650,050. Corporate insiders own 6.95% of the company’s stock.

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.