Marcum Wealth LLC Takes $211,000 Position in Carrier Global Co. (NYSE:CARR)

Marcum Wealth LLC bought a new stake in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,616 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GLOBALT Investments LLC GA acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $859,000. V Square Quantitative Management LLC lifted its stake in shares of Carrier Global by 41.5% in the fourth quarter. V Square Quantitative Management LLC now owns 12,511 shares of the company’s stock valued at $719,000 after purchasing an additional 3,670 shares during the period. Virtu Financial LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at about $209,000. Syon Capital LLC lifted its stake in shares of Carrier Global by 24.2% in the fourth quarter. Syon Capital LLC now owns 6,628 shares of the company’s stock valued at $381,000 after purchasing an additional 1,290 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in shares of Carrier Global by 4.1% in the fourth quarter. EP Wealth Advisors LLC now owns 10,422 shares of the company’s stock valued at $599,000 after purchasing an additional 407 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CARR shares. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Barclays raised their price objective on shares of Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Bank of America lifted their target price on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $77.36.

Carrier Global Price Performance

Carrier Global stock opened at $81.61 on Friday. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $82.16. The firm has a 50 day moving average price of $73.54 and a 200 day moving average price of $66.32. The company has a market cap of $73.67 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.94 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08.

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 analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. Carrier Global’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts predict that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm 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 dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.93%. Carrier Global’s dividend payout ratio is currently 20.27%.

Insider Activity

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s 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 completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.95% of the company’s stock.

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.