Quadrature Capital Ltd Takes $2.02 Million Position in Carrier Global Co. (NYSE:CARR)

Quadrature Capital Ltd purchased a new stake in Carrier Global Co. (NYSE:CARR) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 34,718 shares of the company’s stock, valued at approximately $2,019,000.

Several other hedge funds have also modified their holdings of CARR. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after buying an additional 202 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global during the fourth quarter worth $25,000. EdgeRock Capital LLC acquired a new position in Carrier Global during the fourth quarter worth $27,000. Criterion Capital Advisors LLC acquired a new position in Carrier Global during the fourth quarter worth $32,000. Finally, Planned Solutions Inc. acquired a new position in Carrier Global during the fourth quarter worth $33,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CARR has been the subject of several research reports. Oppenheimer reduced their price objective on Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Friday. Barclays raised their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Robert W. Baird dropped their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company raised their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, TD Cowen raised their price target on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. 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, the company currently has an average rating of “Hold” and a consensus price target of $65.64.

Carrier Global Stock Up 3.0 %

Shares of CARR traded up $1.94 during midday trading on Friday, reaching $66.77. 4,351,536 shares of the company were exchanged, compared to its average volume of 4,160,366. The stock has a 50-day moving average price of $64.53 and a 200-day moving average price of $59.92. The company has a market cap of $60.16 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 2.60 and a beta of 1.32. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $70.09. 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 (NYSE:CARR) last announced its quarterly earnings data 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 firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current 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 $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 (DPR) is 53.15%.

Insiders Place Their Bets

In other news, 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 transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Nadia Villeneuve sold 98,428 shares of the company’s 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 completion of the transaction, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The disclosure for this sale can be found here. Insiders sold 262,954 shares of company stock worth $16,650,050 over the last ninety days. Company 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.