Catalyst Financial Partners LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Catalyst Financial Partners LLC bought a new stake in shares of Carrier Global Co. (NYSE:CARR) during the second quarter, HoldingsChannel.com reports. The fund bought 3,387 shares of the company’s stock, valued at approximately $214,000.

A number of other large investors have also recently modified their holdings of the company. Patten Group Inc. boosted its holdings in shares of Carrier Global by 0.3% in the second quarter. Patten Group Inc. now owns 67,076 shares of the company’s stock valued at $4,231,000 after purchasing an additional 217 shares during the period. AMG National Trust Bank boosted its holdings in shares of Carrier Global by 7.6% in the second quarter. AMG National Trust Bank now owns 57,682 shares of the company’s stock valued at $3,639,000 after purchasing an additional 4,057 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of Carrier Global by 237.1% in the second quarter. Independence Bank of Kentucky now owns 3,981 shares of the company’s stock valued at $251,000 after purchasing an additional 2,800 shares during the period. Kanawha Capital Management LLC boosted its holdings in shares of Carrier Global by 1.4% in the second quarter. Kanawha Capital Management LLC now owns 133,567 shares of the company’s stock valued at $8,425,000 after purchasing an additional 1,847 shares during the period. Finally, LRI Investments LLC lifted its holdings in Carrier Global by 2.3% during the second quarter. LRI Investments LLC now owns 58,736 shares of the company’s stock worth $3,705,000 after buying an additional 1,327 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Oppenheimer upped their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $72.00 target price on shares of Carrier Global in a report on Friday, July 26th. Robert W. Baird decreased their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Bank of America upgraded Carrier Global from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $72.00 in a report on Monday, July 29th. Two equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.08.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, valued at approximately $6,652,910.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is owned by insiders.

Carrier Global Stock Performance

Shares of NYSE CARR traded up $0.73 during mid-day trading on Monday, hitting $71.98. The stock had a trading volume of 2,347,258 shares, compared to its average volume of 4,291,753. 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 50 day moving average of $65.63 and a two-hundred day moving average of $61.47. Carrier Global Co. has a twelve month low of $45.68 and a twelve month high of $72.27. The firm has a market cap of $64.85 billion, a PE ratio of 49.83, a PEG 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 (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for 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 revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Research analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 21st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, June 21st. Carrier Global’s dividend payout ratio is currently 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.