1620 Investment Advisors Inc. Makes New $52,000 Investment in Carrier Global Co. (NYSE:CARR)

1620 Investment Advisors Inc. acquired a new stake in shares of Carrier Global Co. (NYSE:CARR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 824 shares of the company’s stock, valued at approximately $52,000.

Several other large investors have also made changes to their positions in CARR. Olistico Wealth LLC acquired a new stake in shares of Carrier Global in the second quarter worth $25,000. McClarren Financial Advisors Inc. raised its holdings in shares of Carrier Global by 86.7% during 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 period. DiNuzzo Private Wealth Inc. purchased a new position in Carrier Global in the 4th quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in Carrier Global in the fourth quarter valued at approximately $27,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Carrier Global during the first quarter valued at approximately $34,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Trading Down 0.1 %

Carrier Global stock opened at $69.59 on Friday. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $70.09. The firm’s 50-day moving average is $65.49 and its 200-day moving average is $61.26. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company has a market cap of $62.70 billion, a P/E ratio of 48.66, 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 (EPS) for the quarter, topping 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 net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $0.79 earnings per share. On average, equities analysts expect that Carrier Global Co. will post 2.84 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently declared 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 1.09%. Carrier Global’s dividend payout ratio is currently 53.15%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CARR. Oppenheimer upped their target price on shares of Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Robert W. Baird dropped their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Barclays upped their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company raised their price target on shares of Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.08.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.95% of the stock is owned by insiders.

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.