Janney Montgomery Scott LLC Boosts Stock Position in Carrier Global Corporation (NYSE:CARR)

Janney Montgomery Scott LLC lifted its position in Carrier Global Corporation (NYSE:CARR) by 72.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 271,795 shares of the company’s stock after purchasing an additional 114,162 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Carrier Global were worth $17,232,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. increased its holdings in shares of Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock worth $25,000 after purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Park Square Financial Group LLC bought a new position in shares of Carrier Global in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Carrier Global in the fourth quarter worth $31,000. Finally, Mattson Financial Services LLC bought a new position in shares of Carrier Global in the fourth quarter worth $31,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Up 0.0%

Shares of NYSE:CARR opened at $69.80 on Thursday. The stock’s 50-day moving average price is $68.24 and its 200-day moving average price is $67.40. Carrier Global Corporation has a 12-month low of $54.22 and a 12-month high of $83.32. The stock has a market capitalization of $59.84 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. Carrier Global’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.29%. Carrier Global’s dividend payout ratio is currently 13.93%.

Insider Transactions at Carrier Global

In other news, Director Maximilian Viessmann sold 4,267,425 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $70.30, for a total transaction of $299,999,977.50. Following the completion of the sale, the director now directly owns 54,341,534 shares in the company, valued at approximately $3,820,209,840.20. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CARR has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Friday, May 9th. Robert W. Baird increased their target price on Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Mizuho set a $72.00 target price on Carrier Global in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.