Atria Investments Inc Raises Stake in Carrier Global Co. (NYSE:CARR)

Atria Investments Inc grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 41.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,686 shares of the company’s stock after purchasing an additional 17,238 shares during the quarter. Atria Investments Inc’s holdings in Carrier Global were worth $3,411,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global in the fourth quarter valued at about $25,000. EdgeRock Capital LLC bought a new position in Carrier Global in the fourth quarter worth about $27,000. Criterion Capital Advisors LLC bought a new position in Carrier Global in the fourth quarter worth about $32,000. Finally, Register Financial Advisors LLC bought a new position in Carrier Global in the first quarter worth about $34,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR traded down $2.07 during trading hours on Friday, reaching $63.99. The stock had a trading volume of 3,556,949 shares, compared to its average volume of 3,753,714. The stock has a fifty day moving average of $64.64 and a 200 day moving average of $60.24. The stock has a market cap of $57.77 billion, a P/E ratio of 44.76, a price-to-earnings-growth 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 debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

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

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be given a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.19%. Carrier Global’s dividend payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CARR shares. Wells Fargo & Company boosted their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Barclays boosted their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $72.00 target price on shares of Carrier Global in a report on Friday, July 26th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Oppenheimer reduced their target price on shares of Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $66.77.

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.