Bar Harbor Wealth Management Increases Holdings in Carrier Global Co. (NYSE:CARR)

Bar Harbor Wealth Management increased its holdings in shares of Carrier Global Co. (NYSE:CARR) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,719 shares of the company’s stock after purchasing an additional 315 shares during the period. Bar Harbor Wealth Management’s holdings in Carrier Global were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. boosted its position 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 buying an additional 202 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Carrier Global during the fourth quarter worth about $25,000. Olistico Wealth LLC bought a new position in shares of Carrier Global during the second quarter worth about $25,000. EdgeRock Capital LLC bought a new position in shares of Carrier Global during the fourth quarter worth about $27,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Carrier Global during the fourth quarter worth about $32,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Stock Performance

NYSE CARR traded down $0.74 during midday trading on Friday, hitting $67.66. The company had a trading volume of 1,506,831 shares, compared to its average volume of 4,351,561. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock has a market cap of $60.96 billion, a price-to-earnings ratio of 47.83, a P/E/G ratio of 2.63 and a beta of 1.32. The firm has a fifty day simple moving average of $64.93 and a two-hundred day simple moving average of $60.81. 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 posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. Equities analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 21st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.12%. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CARR shares. TD Cowen increased their price objective on shares of Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Royal Bank of Canada restated an “outperform” rating and issued a $72.00 price target on shares of Carrier Global in a research note on Friday, July 26th. Wells Fargo & Company raised their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Oppenheimer raised their price target on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and raised their price target for the company from $55.00 to $72.00 in a research note on Monday, July 29th. Two 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.08.

Insider Activity

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

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.