Sovereign Financial Group Inc. Has $243,000 Stock Position in Carrier Global Co. (NYSE:CARR)

Sovereign Financial Group Inc. raised its position in shares of Carrier Global Co. (NYSE:CARR) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,224 shares of the company’s stock after purchasing an additional 188 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Carrier Global were worth $243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. increased its holdings in shares of Carrier Global by 86.7% during 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. acquired a new stake in shares of Carrier Global in the 4th quarter worth about $25,000. OFI Invest Asset Management bought a new position in Carrier Global in the 3rd quarter valued at about $28,000. Larson Financial Group LLC boosted its stake in Carrier Global by 76.2% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after purchasing an additional 221 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in Carrier Global during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Trading Up 0.1 %

CARR stock traded up $0.05 during trading on Wednesday, hitting $64.31. 2,285,309 shares of the company traded hands, compared to its average volume of 4,835,917. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global Co. has a 1 year low of $40.49 and a 1 year high of $64.69. The company has a 50-day moving average of $57.53 and a 200-day moving average of $55.24. The firm has a market capitalization of $57.94 billion, a PE ratio of 44.98, a P/E/G ratio of 2.61 and a beta of 1.34.

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

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.18%. Carrier Global’s payout ratio is 53.15%.

Insiders Place Their Bets

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the firm’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 Securities & Exchange Commission, which is accessible through this link. In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the completion of the sale, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 541,005 shares of company stock worth $30,536,214. Company insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird lifted their target price on Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Oppenheimer increased their price target on Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Barclays upped their price target on shares of Carrier Global from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wells Fargo & Company lifted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada dropped their target price on Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Carrier Global has an average rating of “Hold” and an average price target of $62.71.

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.