Griffin Asset Management Inc. Purchases Shares of 20,547 Carrier Global Co. (NYSE:CARR)

Griffin Asset Management Inc. purchased a new stake in Carrier Global Co. (NYSE:CARR) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 20,547 shares of the company’s stock, valued at approximately $1,296,000.

A number of other hedge funds also recently made changes to their positions in CARR. JPMorgan Chase & Co. lifted its holdings in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after acquiring an additional 17,021,768 shares during the last quarter. Norges Bank bought a new stake in shares of Carrier Global during the 4th quarter worth $444,487,000. Capital International Investors raised its position in Carrier Global by 4.6% in the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after purchasing an additional 3,763,666 shares during the period. PineStone Asset Management Inc. raised its position in Carrier Global by 139.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after purchasing an additional 3,741,206 shares during the period. Finally, Capital Research Global Investors raised its position in Carrier Global by 3.3% in the 4th quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock worth $5,333,084,000 after purchasing an additional 2,961,923 shares during the period. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

CARR has been the topic of a number of analyst reports. Oppenheimer lifted their target price on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Wells Fargo & Company boosted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $72.00 target price on shares of Carrier Global in a research note on Friday, July 26th. Finally, Bank of America raised shares of Carrier Global from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $55.00 to $72.00 in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.08.

Carrier Global Stock Down 0.1 %

Shares of NYSE CARR traded down $0.07 during midday trading on Thursday, hitting $69.59. The stock had a trading volume of 1,970,700 shares, compared to its average volume of 4,315,562. The business’s 50 day moving average is $65.38 and its 200-day moving average is $61.20. The company has a market cap of $62.70 billion, a P/E ratio of 48.70, a PEG ratio of 2.63 and a beta of 1.32. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $70.09. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. As a group, analysts predict that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 21st were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.09%. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.95% of the company’s stock.

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.