Exchange Traded Concepts LLC Grows Stock Holdings in Carrier Global Corporation (NYSE:CARR)

Exchange Traded Concepts LLC boosted its stake in Carrier Global Corporation (NYSE:CARRFree Report) by 31.4% in the first quarter, Holdings Channel.com reports. The fund owned 1,654 shares of the company’s stock after buying an additional 395 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Carrier Global were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Carrier Global by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after purchasing an additional 420,081 shares during the period. Fisher Asset Management LLC boosted its holdings in Carrier Global by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock worth $977,028,000 after buying an additional 46,222 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Carrier Global by 16.7% during the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock valued at $603,922,000 after buying an additional 1,266,137 shares during the period. Norges Bank purchased a new position in Carrier Global during the fourth quarter worth approximately $588,029,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Carrier Global by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,930,061 shares of the company’s stock worth $473,046,000 after purchasing an additional 936,892 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank Of Canada raised their price objective on shares of Carrier Global from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Friday, May 9th. Finally, Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. 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, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Read Our Latest Stock Analysis on Carrier Global

Carrier Global Trading Up 1.0%

Shares of NYSE:CARR opened at $72.53 on Wednesday. The company has a market cap of $62.18 billion, a PE ratio of 11.23, a P/E/G ratio of 2.01 and a beta of 1.33. The company’s 50-day moving average price is $69.14 and its 200 day moving average price is $67.24. Carrier Global Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $83.32. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.78.

Carrier Global (NYSE:CARRGet Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. Carrier Global had a net margin of 25.45% and a return on equity of 18.10%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the firm posted $0.51 EPS. Carrier Global’s quarterly revenue was down 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, July 21st will be given 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 1.24%. Carrier Global’s dividend payout ratio (DPR) is 13.93%.

Insiders Place Their Bets

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $70.30, for a total value of $299,999,977.50. Following the sale, the director now directly owns 54,341,534 shares in the company, valued at $3,820,209,840.20. The trade was a 7.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by insiders.

Carrier Global Profile

(Free Report)

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.

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

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