Connectus Wealth LLC Trims Position in Carrier Global Co. (NYSE:CARR)

Connectus Wealth LLC cut its holdings in shares of Carrier Global Co. (NYSE:CARRGet Rating) by 40.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,821 shares of the company’s stock after selling 9,354 shares during the period. Connectus Wealth LLC’s holdings in Carrier Global were worth $750,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in Carrier Global in the fourth quarter worth $6,598,000. CWM LLC purchased a new stake in Carrier Global in the fourth quarter worth $1,314,000. Qube Research & Technologies Ltd grew its stake in Carrier Global by 97.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 87,181 shares of the company’s stock worth $4,729,000 after purchasing an additional 42,994 shares during the period. Centaurus Financial Inc. grew its stake in Carrier Global by 14.2% in the fourth quarter. Centaurus Financial Inc. now owns 4,106 shares of the company’s stock worth $223,000 after purchasing an additional 512 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in Carrier Global by 14.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 19,977 shares of the company’s stock worth $1,084,000 after purchasing an additional 2,597 shares during the period. 85.55% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Up 0.2 %

CARR stock opened at $41.88 on Friday. Carrier Global Co. has a fifty-two week low of $34.12 and a fifty-two week high of $58.89. The business’s 50-day moving average is $37.50 and its two-hundred day moving average is $41.47. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.25 and a current ratio of 1.67. The company has a market cap of $35.25 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 2.00 and a beta of 1.34.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Thursday, June 23rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, June 22nd. Carrier Global’s payout ratio is 19.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Credit Suisse Group set a $41.00 target price on Carrier Global in a research note on Tuesday, July 19th. Bank of America cut Carrier Global from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 18th. Mizuho cut their target price on Carrier Global from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, July 18th. Morgan Stanley increased their target price on Carrier Global from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Finally, TheStreet cut Carrier Global from a “b-” rating to a “c” rating in a research note on Friday, April 29th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and an average price target of $48.73.

Carrier Global Profile

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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