Mather Group LLC. Increases Stock Position in Carrier Global Co. (NYSE:CARR)

Mather Group LLC. grew its stake in Carrier Global Co. (NYSE:CARR) by 56.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,417 shares of the company’s stock after acquiring an additional 4,130 shares during the period. Mather Group LLC.’s holdings in Carrier Global were worth $664,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Beach Investment Counsel Inc. PA purchased a new stake in Carrier Global during the second quarter worth about $156,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Carrier Global during the 2nd quarter worth approximately $71,000. Moody National Bank Trust Division lifted its holdings in Carrier Global by 6.8% during the 2nd quarter. Moody National Bank Trust Division now owns 10,087 shares of the company’s stock worth $636,000 after buying an additional 639 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Carrier Global by 34.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,202 shares of the company’s stock worth $265,000 after buying an additional 1,078 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Carrier Global by 12.8% in the second quarter. GAMMA Investing LLC now owns 11,212 shares of the company’s stock worth $707,000 after acquiring an additional 1,270 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CARR has been the subject of several recent research reports. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Barclays boosted their price target 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. TD Cowen raised their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company raised their price target on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $66.77.

Insiders Place Their Bets

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of Carrier Global 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 sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Nadia Villeneuve sold 98,428 shares of the business’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 owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kyle Crockett sold 4,611 shares of the 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 sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Carrier Global Trading Up 0.7 %

CARR traded up $0.46 during midday trading on Wednesday, hitting $64.60. The company’s stock had a trading volume of 693,052 shares, compared to its average volume of 4,407,430. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $64.59 and a two-hundred day moving average price of $60.43. The firm has a market cap of $58.32 billion, a P/E ratio of 45.46, a PEG ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. On average, research analysts anticipate that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Carrier Global Company 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.