Naples Global Advisors LLC Buys 1,680 Shares of Carrier Global Co. (NYSE:CARR)

Naples Global Advisors LLC raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 26.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,065 shares of the company’s stock after acquiring an additional 1,680 shares during the quarter. Naples Global Advisors LLC’s holdings in Carrier Global were worth $511,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Syon Capital LLC lifted its holdings in shares of Carrier Global by 2.2% during the fourth quarter. Syon Capital LLC now owns 7,089 shares of the company’s stock valued at $484,000 after acquiring an additional 155 shares during the period. BOK Financial Private Wealth Inc. raised 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 valued at $25,000 after buying an additional 160 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Carrier Global by 3.7% in the fourth quarter. Wealthspire Advisors LLC now owns 4,473 shares of the company’s stock valued at $305,000 after buying an additional 161 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Carrier Global by 0.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 20,128 shares of the company’s stock valued at $1,378,000 after buying an additional 169 shares during the last quarter. Finally, Beck Mack & Oliver LLC raised its holdings in shares of Carrier Global by 1.9% in the fourth quarter. Beck Mack & Oliver LLC now owns 9,124 shares of the company’s stock valued at $623,000 after buying an additional 174 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of CARR opened at $71.09 on Friday. Carrier Global Co. has a 1 year low of $54.22 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The company has a market capitalization of $60.95 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The business has a 50-day moving average of $66.27 and a 200-day moving average of $67.70.

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

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Friday, May 2nd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. Carrier Global’s payout ratio is 13.93%.

Insider Activity at Carrier Global

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

Analyst Ratings Changes

A number of research firms recently issued reports on CARR. Northcoast Research raised Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Friday, May 9th. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Citigroup cut their price target on Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 14th. Robert W. Baird lifted their price target on Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Carrier Global in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

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.