DORCHESTER WEALTH MANAGEMENT Co Acquires New Stake in Carrier Global Co. (NYSE:CARR)

DORCHESTER WEALTH MANAGEMENT Co bought a new stake in Carrier Global Co. (NYSE:CARR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,390 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors have also recently added to or reduced their stakes in CARR. Brighton Jones LLC raised its position in shares of Carrier Global by 5.5% in the third quarter. Brighton Jones LLC now owns 6,108 shares of the company’s stock valued at $492,000 after buying an additional 318 shares during the last quarter. International Assets Investment Management LLC grew its stake in Carrier Global by 8,797.3% in the 3rd quarter. International Assets Investment Management LLC now owns 907,258 shares of the company’s stock worth $730,250,000 after acquiring an additional 897,061 shares during the period. Capital Investment Counsel Inc purchased a new stake in Carrier Global in the 3rd quarter worth approximately $249,000. TFG Advisers LLC raised its holdings in Carrier Global by 7.7% in the 3rd quarter. TFG Advisers LLC now owns 7,479 shares of the company’s stock valued at $602,000 after acquiring an additional 535 shares during the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Carrier Global by 1.1% during the 3rd quarter. Greenleaf Trust now owns 23,204 shares of the company’s stock worth $1,868,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’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 transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CARR shares. Mizuho upped their target price on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays upped their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Robert W. Baird dropped their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Carrier Global has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Carrier Global Stock Down 7.8 %

NYSE CARR traded down $6.21 during trading hours on Thursday, hitting $73.74. The company had a trading volume of 3,579,365 shares, compared to its average volume of 4,116,378. The firm’s 50 day moving average is $76.24 and its 200 day moving average is $67.73. The company has a market capitalization of $66.44 billion, a price-to-earnings ratio of 51.37, a P/E/G ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the company posted $0.79 EPS. Carrier Global’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company 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 $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

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.