Aaron Wealth Advisors LLC Sells 611 Shares of Carrier Global Co. (NYSE:CARR)

Aaron Wealth Advisors LLC decreased its position in shares of Carrier Global Co. (NYSE:CARR) by 15.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,387 shares of the company’s stock after selling 611 shares during the period. Aaron Wealth Advisors LLC’s holdings in Carrier Global were worth $273,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC boosted its stake in shares of Carrier Global by 13.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 17,289 shares of the company’s stock valued at $1,392,000 after purchasing an additional 2,116 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Carrier Global by 2.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 83,834 shares of the company’s stock valued at $6,748,000 after buying an additional 1,802 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Carrier Global by 3.5% in the third quarter. Bleakley Financial Group LLC now owns 47,004 shares of the company’s stock worth $3,783,000 after buying an additional 1,577 shares during the period. Armstrong Fleming & Moore Inc purchased a new position in shares of Carrier Global in the third quarter worth about $237,000. Finally, Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Carrier Global by 4.3% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 5,161 shares of the company’s stock valued at $415,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CARR. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target on the stock. Stephens downgraded shares of Carrier Global from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $75.00 to $85.00 in a research note on Wednesday. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their price objective on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Insider Activity

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Carrier Global stock opened at $81.55 on Friday. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $83.32. The stock’s 50 day simple moving average is $75.32 and its two-hundred day simple moving average is $67.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock has a market cap of $73.48 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. As a group, analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders 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 dividend yield of 0.93%. Carrier Global’s dividend payout ratio is currently 53.15%.

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.