HCR Wealth Advisors Cuts Stock Position in Carrier Global Co. (NYSE:CARR)

HCR Wealth Advisors cut its holdings in shares of Carrier Global Co. (NYSE:CARR) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,478 shares of the company’s stock after selling 1,074 shares during the period. HCR Wealth Advisors’ holdings in Carrier Global were worth $521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Avity Investment Management Inc. boosted its stake in shares of Carrier Global by 95.4% in the 3rd quarter. Avity Investment Management Inc. now owns 240,799 shares of the company’s stock worth $19,382,000 after buying an additional 117,545 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Carrier Global by 1.5% in the third quarter. Valeo Financial Advisors LLC now owns 12,244 shares of the company’s stock worth $986,000 after purchasing an additional 179 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Carrier Global by 359.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,729 shares of the company’s stock worth $542,000 after purchasing an additional 5,264 shares during the period. Contravisory Investment Management Inc. increased its holdings in Carrier Global by 0.6% during the third quarter. Contravisory Investment Management Inc. now owns 129,957 shares of the company’s stock valued at $10,460,000 after buying an additional 794 shares during the last quarter. Finally, Boston Common Asset Management LLC raised its position in Carrier Global by 4.9% in the third quarter. Boston Common Asset Management LLC now owns 305,174 shares of the company’s stock worth $24,563,000 after acquiring an additional 14,239 shares during the period. Institutional investors own 91.00% of the company’s stock.

Carrier Global Trading Up 1.5 %

CARR traded up $1.18 on Friday, hitting $81.61. The company had a trading volume of 3,324,528 shares, compared to its average volume of 4,165,614. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $82.16. 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 business’s fifty day simple moving average is $73.54 and its 200 day simple moving average is $66.32. The company has a market cap of $73.67 billion, a PE ratio of 21.76, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s payout ratio is currently 20.27%.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Bank of America increased their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Oppenheimer increased their price target on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.36.

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.95% of the company’s stock.

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.