Carrier Global Co. (NYSE:CARR) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC boosted its holdings in shares of Carrier Global Co. (NYSE:CARR) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,792 shares of the company’s stock after purchasing an additional 1,761 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Carrier Global were worth $2,778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CARR. JPMorgan Chase & Co. lifted its stake in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after purchasing an additional 17,021,768 shares during the last quarter. Norges Bank acquired a new stake in Carrier Global during the fourth quarter valued at approximately $444,487,000. Capital International Investors lifted its stake in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after purchasing an additional 3,763,666 shares during the last quarter. Capital Research Global Investors lifted its stake in Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after purchasing an additional 2,961,923 shares during the last quarter. Finally, Bristol Gate Capital Partners Inc. purchased a new stake in shares of Carrier Global in the 4th quarter valued at approximately $92,651,000. 91.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CARR. Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and upped their price target for the company from $55.00 to $72.00 in a research report on Monday. Barclays upped their price target on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. TD Cowen upped their price target on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Robert W. Baird reduced their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $66.86.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the 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 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 legal filing with the SEC, which is available through the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the 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 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 legal filing with the SEC, which is available through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the stock in a transaction on 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 of the company’s stock, valued at $5,560,831.20. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR opened at $67.43 on Wednesday. The company’s fifty day moving average is $64.58 and its 200-day moving average is $60.09. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $70.09. The firm has a market cap of $60.87 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 2.70 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its earnings results 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. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the business posted $0.79 EPS. Carrier Global’s revenue was up 11.7% compared to the same quarter last year. Equities analysts expect 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 will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is presently 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.