Wesbanco Bank Inc. Buys 1,498 Shares of Carrier Global Co. (NYSE:CARR)

Wesbanco Bank Inc. grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,529 shares of the company’s stock after acquiring an additional 1,498 shares during the quarter. Wesbanco Bank Inc.’s holdings in Carrier Global were worth $3,826,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Carrier Global by 280.1% in the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares in the last quarter. Capital International Investors lifted its holdings in shares of Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of Carrier Global by 139.7% during the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Carrier Global in the 2nd quarter worth about $58,415,000. Finally, Vanguard Group Inc. raised its position in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after buying an additional 466,829 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 1.3 %

NYSE CARR opened at $81.60 on Wednesday. The stock’s 50-day moving average price is $74.28 and its 200-day moving average price is $66.78. The company has a market capitalization of $73.52 billion, a P/E ratio of 57.06, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. 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 Co. has a 52 week low of $45.68 and a 52 week high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The business 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 company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. Carrier Global’s payout ratio is presently 53.15%.

Insider Buying and Selling at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

CARR has been the topic of a number of recent analyst reports. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Barclays lifted their target price on shares of Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. started coverage on Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price target on the stock. Robert W. Baird cut their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.50.

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.