Vista Investment Partners LLC Makes New $744,000 Investment in Carrier Global Co. (NYSE:CARR)

Vista Investment Partners LLC acquired a new stake in Carrier Global Co. (NYSE:CARR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,798 shares of the company’s stock, valued at approximately $744,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. 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 Carrier Global in the fourth quarter worth $25,000. Olistico Wealth LLC acquired a new stake in Carrier Global during the second quarter worth $25,000. EdgeRock Capital LLC bought a new stake in Carrier Global in the 4th quarter valued at $27,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other news, CAO Kyle Crockett sold 4,611 shares of the firm’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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Carrier Global Price Performance

Shares of Carrier Global stock traded down $1.02 during midday trading on Friday, reaching $67.38. The company had a trading volume of 3,675,719 shares, compared to its average volume of 4,365,288. The stock has a fifty day simple moving average of $65.02 and a 200 day simple moving average of $60.92. Carrier Global Co. has a 1-year low of $45.68 and a 1-year 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 company has a market capitalization of $60.71 billion, a price-to-earnings ratio of 47.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. As a group, equities research analysts forecast that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 21st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $72.00 price target on shares of Carrier Global in a research note on Friday, July 26th. Barclays boosted their price target 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 note on Monday, July 15th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Finally, Bank of America upgraded shares of Carrier Global from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $72.00 in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $67.08.

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.