Mission Wealth Management LP Acquires 564 Shares of Carrier Global Co. (NYSE:CARR)

Mission Wealth Management LP raised its position in shares of Carrier Global Co. (NYSE:CARR) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,501 shares of the company’s stock after acquiring an additional 564 shares during the quarter. Mission Wealth Management LP’s holdings in Carrier Global were worth $378,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CARR. Federated Hermes Inc. boosted its position in Carrier Global by 72.1% during the 3rd quarter. Federated Hermes Inc. now owns 3,899 shares of the company’s stock valued at $215,000 after acquiring an additional 1,634 shares in the last quarter. Alps Advisors Inc. bought a new stake in Carrier Global during the 3rd quarter valued at approximately $316,000. Lido Advisors LLC boosted its position in Carrier Global by 36.6% during the 3rd quarter. Lido Advisors LLC now owns 14,559 shares of the company’s stock valued at $804,000 after acquiring an additional 3,904 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Carrier Global by 12.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,681,849 shares of the company’s stock valued at $258,438,000 after acquiring an additional 521,189 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in Carrier Global by 7.3% during the 3rd quarter. Schroder Investment Management Group now owns 114,124 shares of the company’s stock valued at $6,300,000 after acquiring an additional 7,717 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Price Performance

Shares of CARR traded down $0.22 during midday trading on Friday, hitting $63.24. 1,994,913 shares of the company traded hands, compared to its average volume of 3,879,092. The firm has a 50 day moving average of $63.80 and a 200-day moving average of $58.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market cap of $56.98 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 2.47 and a beta of 1.32. Carrier Global Co. has a 52 week low of $45.68 and a 52 week high of $66.50.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. On average, analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio is 53.15%.

Insider Activity

In other news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,954 shares of company stock worth $16,650,050. 6.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CARR. TD Cowen lifted their target price on shares of Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a report on Monday, April 29th. Robert W. Baird lifted their target price on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barclays lifted their target price on shares of Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Oppenheimer lifted their target price on shares of Carrier Global from $64.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.14.

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.