Kraematon Investment Advisors Inc. Decreases Stock Position in Carrier Global Co. (NYSE:CARR)

Kraematon Investment Advisors Inc. trimmed its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,350 shares of the company’s stock after selling 568 shares during the quarter. Carrier Global makes up 1.1% of Kraematon Investment Advisors Inc.’s portfolio, making the stock its 27th biggest position. Kraematon Investment Advisors Inc.’s holdings in Carrier Global were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in CARR. BOK Financial Private Wealth Inc. raised its holdings in shares of Carrier Global by 80.0% during 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 stake in Carrier Global by 90.0% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the period. Park Square Financial Group LLC acquired a new position in Carrier Global during the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Carrier Global during the 4th quarter valued at about $31,000. Finally, Mattson Financial Services LLC acquired a new position in Carrier Global during the 4th quarter valued at about $31,000. 91.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of several research reports. Northcoast Research upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. The Goldman Sachs Group restated a “buy” rating on shares of Carrier Global in a research report on Wednesday, May 21st. Mizuho set a $72.00 target price on shares of Carrier Global in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Carrier Global from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Carrier Global Price Performance

NYSE CARR opened at $71.09 on Friday. The company has a 50 day simple moving average of $66.27 and a 200-day simple moving average of $67.65. 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 firm 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. Carrier Global Co. has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results 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. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities research analysts predict that Carrier Global Co. will post 2.99 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

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

Insider Transactions at Carrier Global

In related news, Director Maximilian Viessmann sold 4,267,425 shares of the firm’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 transaction 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. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is owned by insiders.

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.