Carrier Global Co. (NYSE:CARR) Position Increased by OLD National Bancorp IN

OLD National Bancorp IN lifted its position in Carrier Global Co. (NYSE:CARR) by 15.2% in the 2nd quarter, Holdings Channel reports. The fund owned 7,793 shares of the company’s stock after buying an additional 1,029 shares during the period. OLD National Bancorp IN’s holdings in Carrier Global were worth $492,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Olistico Wealth LLC purchased a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $25,000. McClarren Financial Advisors Inc. lifted its position in Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after buying an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Carrier Global in the 4th quarter worth approximately $25,000. EdgeRock Capital LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $27,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Carrier Global in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR traded down $0.10 during midday trading on Friday, reaching $64.38. The stock had a trading volume of 2,339,901 shares, compared to its average volume of 4,398,888. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $70.09. The firm’s fifty day simple moving average is $64.63 and its 200-day simple moving average is $60.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market capitalization of $58.01 billion, a P/E ratio of 45.02, a PEG ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, equities research analysts forecast that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were given a $0.19 dividend. The ex-dividend date was Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.18%. Carrier Global’s dividend payout ratio is 53.15%.

Insiders Place Their Bets

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the company’s 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 sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the sale, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer cut their target price on shares of Carrier Global from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $72.00 target price on shares of Carrier Global in a research report on Friday, July 26th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. TD Cowen raised their price target on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and raised their price target for the company from $55.00 to $72.00 in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global has an average rating of “Hold” and a consensus price target of $66.77.

About Carrier Global

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.