Riverwater Partners LLC Reduces Stock Position in Carrier Global Co. (NYSE:CARR)

Riverwater Partners LLC trimmed its position in Carrier Global Co. (NYSE:CARR) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,229 shares of the company’s stock after selling 280 shares during the quarter. Riverwater Partners LLC’s holdings in Carrier Global were worth $663,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Marathon Capital Management lifted its stake in Carrier Global by 4.1% during the second quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Carrier Global by 0.5% during the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock valued at $2,044,000 after acquiring an additional 162 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Carrier Global by 2.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,779 shares of the company’s stock worth $465,000 after purchasing an additional 163 shares during the period. Founders Capital Management LLC boosted its position in Carrier Global by 3.4% during the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock valued at $331,000 after acquiring an additional 175 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Carrier Global by 1.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 12,244 shares of the company’s stock valued at $986,000 after buying an additional 179 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CARR shares. Wells Fargo & Company increased their price target on shares of Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Bank of America lifted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Mizuho upped their price target on Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. initiated coverage on Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Finally, Barclays increased their target price on Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by company insiders.

Carrier Global Stock Performance

Shares of CARR stock opened at $79.95 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average price of $76.24 and a 200-day moving average price of $67.73. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $83.32. The firm has a market capitalization of $72.04 billion, a PE ratio of 55.91, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion during 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 firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. As a group, equities research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is currently 53.15%.

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.