Entropy Technologies LP Makes New Investment in Carrier Global Co. (NYSE:CARR)

Entropy Technologies LP acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 10,030 shares of the company’s stock, valued at approximately $583,000.

A number of other hedge funds also recently made changes to their positions in CARR. Berkshire Money Management Inc. bought a new stake in Carrier Global in the 1st quarter worth approximately $236,000. J.P. Marvel Investment Advisors LLC lifted its holdings in shares of Carrier Global by 22.0% in the 1st quarter. J.P. Marvel Investment Advisors LLC now owns 68,684 shares of the company’s stock worth $3,993,000 after acquiring an additional 12,379 shares during the last quarter. Sheets Smith Wealth Management lifted its holdings in shares of Carrier Global by 14.5% in the 1st quarter. Sheets Smith Wealth Management now owns 4,342 shares of the company’s stock worth $252,000 after acquiring an additional 550 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Carrier Global by 8.4% in the 1st quarter. Bleakley Financial Group LLC now owns 49,069 shares of the company’s stock valued at $2,852,000 after purchasing an additional 3,820 shares in the last quarter. Finally, Heritage Wealth Advisors grew its holdings in shares of Carrier Global by 72.6% during the 1st quarter. Heritage Wealth Advisors now owns 1,300 shares of the company’s stock valued at $76,000 after purchasing an additional 547 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CARR. Oppenheimer boosted their price target on shares of Carrier Global from $64.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Barclays boosted their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday. TD Cowen boosted their price objective on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Robert W. Baird upgraded shares of Carrier Global from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $64.00 to $75.00 in a report on Monday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Hold” and a consensus target price of $64.93.

Insider Transactions at Carrier Global

In other news, CAO Kyle Crockett sold 4,611 shares of the business’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 completion of the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 262,954 shares of company stock valued at $16,650,050 in the last quarter. 6.95% of the stock is owned by insiders.

Carrier Global Stock Up 0.9 %

Shares of CARR traded up $0.62 on Thursday, reaching $68.20. The stock had a trading volume of 358,108 shares, compared to its average volume of 4,444,798. The firm has a market capitalization of $61.45 billion, a price-to-earnings ratio of 47.27, a price-to-earnings-growth ratio of 2.72 and a beta of 1.32. The company has a 50-day simple moving average of $64.30 and a 200-day simple moving average of $59.40. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $70.09. 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 (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Sell-side analysts predict that Carrier Global Co. will post 2.85 EPS 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 paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

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.