Axxcess Wealth Management LLC Has $850,000 Position in Carrier Global Co. (NYSE:CARR)

Axxcess Wealth Management LLC raised its stake in Carrier Global Co. (NYSE:CARR) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,617 shares of the company’s stock after acquiring an additional 809 shares during the period. Axxcess Wealth Management LLC’s holdings in Carrier Global were worth $850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised 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 in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Carrier Global in the 4th quarter valued at $25,000. EdgeRock Capital LLC bought a new position in shares of Carrier Global in the 4th quarter valued at $27,000. Criterion Capital Advisors LLC bought a new position in shares of Carrier Global in the 4th quarter valued at $32,000. Finally, Planned Solutions Inc. bought a new position in shares of Carrier Global in the 4th quarter valued at $33,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CARR. Oppenheimer reduced their price objective on Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. Robert W. Baird reduced their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $72.00 price objective on shares of Carrier Global in a research report on Friday. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.64.

Insider Buying and Selling

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction that occurred 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. In the last three months, insiders have sold 262,954 shares of company stock valued at $16,650,050. 6.95% of the stock is owned by company insiders.

Carrier Global Trading Up 3.0 %

Shares of NYSE:CARR traded up $1.94 during midday trading on Friday, reaching $66.77. The company’s stock had a trading volume of 4,351,523 shares, compared to its average volume of 4,472,202. The firm has a market capitalization of $60.16 billion, a price-to-earnings ratio of 47.05, a PEG ratio of 2.57 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a 50 day moving average price of $64.49 and a two-hundred day moving average price of $59.82. Carrier Global Co. has a fifty-two week low of $45.68 and a fifty-two week high of $70.09.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. As a group, analysts forecast that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend 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.