Capital Asset Advisory Services LLC Acquires 1,309 Shares of Carrier Global Co. (NYSE:CARR)

Capital Asset Advisory Services LLC boosted its holdings in Carrier Global Co. (NYSE:CARR) by 35.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,973 shares of the company’s stock after purchasing an additional 1,309 shares during the period. Capital Asset Advisory Services LLC’s holdings in Carrier Global were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Lincoln Capital LLC increased its position in shares of Carrier Global by 1.3% during the first quarter. Lincoln Capital LLC now owns 116,558 shares of the company’s stock valued at $6,776,000 after purchasing an additional 1,511 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of Carrier Global by 18.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,847 shares of the company’s stock valued at $398,000 after purchasing an additional 1,088 shares during the period. Brookstone Capital Management increased its position in shares of Carrier Global by 14.4% during the first quarter. Brookstone Capital Management now owns 5,683 shares of the company’s stock valued at $330,000 after purchasing an additional 715 shares during the period. Sunbelt Securities Inc. increased its position in shares of Carrier Global by 2.3% during the first quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock valued at $467,000 after purchasing an additional 182 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Carrier Global by 8.9% during the first quarter. Kingswood Wealth Advisors LLC now owns 5,214 shares of the company’s stock valued at $303,000 after purchasing an additional 426 shares during the period. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CARR shares. Wells Fargo & Company boosted their price objective on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Barclays boosted their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Oppenheimer boosted their price target on Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $74.00 in a research note on Monday. Finally, TD Cowen boosted their price target on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.14.

Carrier Global Price Performance

Carrier Global stock traded down $0.08 on Friday, reaching $63.15. The company’s stock had a trading volume of 17,783,770 shares, compared to its average volume of 4,594,763. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The company has a market cap of $56.90 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 2.54 and a beta of 1.33. The business’s fifty day moving average price is $62.99 and its 200 day moving average price is $58.65. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $66.50.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The business had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Equities analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Activity

In other news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The disclosure for this sale can be found here. Insiders have sold 262,954 shares of company stock valued at $16,650,050 over the last 90 days. 6.95% of the stock is owned by company insiders.

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.