New England Research & Management Inc. Grows Stock Holdings in Carrier Global Co. (NYSE:CARR)

New England Research & Management Inc. lifted its position in shares of Carrier Global Co. (NYSE:CARR) by 439.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,550 shares of the company’s stock after buying an additional 27,325 shares during the quarter. New England Research & Management Inc.’s holdings in Carrier Global were worth $1,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CARR. McClarren Financial Advisors Inc. increased its holdings in Carrier Global by 86.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Carrier Global in the 4th quarter valued at $25,000. EdgeRock Capital LLC bought a new stake in Carrier Global in the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC bought a new stake in shares of Carrier Global in the 3rd quarter worth about $30,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Carrier Global in the 4th quarter worth about $32,000. 91.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carrier Global

In other news, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the sale, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold a total of 262,954 shares of company stock valued at $16,650,050 over the last ninety days. Corporate insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CARR shares. TD Cowen boosted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, April 29th. 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. 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. Robert W. Baird boosted their target price on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, 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. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Carrier Global presently has a consensus rating of “Hold” and a consensus target price of $64.14.

Carrier Global Price Performance

Carrier Global stock opened at $63.15 on Friday. The firm has a 50-day moving average of $62.99 and a two-hundred day moving average of $58.65. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $66.50. The stock has a market cap of $56.90 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 2.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

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

Carrier Global Announces Dividend

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 issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is 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.