Welch Group LLC Buys 8,478 Shares of Carrier Global Co. (NYSE:CARR)

Welch Group LLC lifted its stake in Carrier Global Co. (NYSE:CARR) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,549 shares of the company’s stock after purchasing an additional 8,478 shares during the quarter. Welch Group LLC’s holdings in Carrier Global were worth $6,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Carrier Global by 17.4% in the 1st quarter. Parallel Advisors LLC now owns 23,539 shares of the company’s stock worth $1,492,000 after purchasing an additional 3,489 shares in the last quarter. GAMMA Investing LLC lifted its position in Carrier Global by 7,043.4% in the 1st quarter. GAMMA Investing LLC now owns 1,058,653 shares of the company’s stock valued at $67,119,000 after acquiring an additional 1,043,833 shares in the last quarter. Quent Capital LLC lifted its position in Carrier Global by 15.0% in the 1st quarter. Quent Capital LLC now owns 3,794 shares of the company’s stock valued at $241,000 after acquiring an additional 495 shares in the last quarter. Milestone Asset Management Group LLC bought a new position in Carrier Global in the 4th quarter valued at approximately $733,000. Finally, Fire Capital Management LLC bought a new position in Carrier Global in the 4th quarter valued at approximately $320,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Trading Up 0.6%

Shares of Carrier Global stock opened at $71.44 on Friday. The firm has a market cap of $61.25 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.01 and a beta of 1.33. The business has a 50-day moving average price of $65.56 and a 200-day moving average price of $67.86. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global Co. has a twelve month low of $54.22 and a twelve month high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. Equities research analysts anticipate that Carrier Global Co. will post 2.99 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, May 2nd. Carrier Global’s payout ratio is currently 13.93%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada upped their price objective on Carrier Global from $86.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Barclays increased their price target on Carrier Global from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Wolfe Research raised Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price target on Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.00.

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.