Hemenway Trust Co LLC Invests $6.29 Million in Carrier Global Co. (NYSE:CARR)

Hemenway Trust Co LLC bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 108,170 shares of the company’s stock, valued at approximately $6,288,000.

Other hedge funds also recently modified their holdings of the company. Howland Capital Management LLC bought a new position in Carrier Global during the first quarter worth about $325,000. Geneos Wealth Management Inc. increased its position in Carrier Global by 10.0% during the first quarter. Geneos Wealth Management Inc. now owns 2,694 shares of the company’s stock worth $157,000 after acquiring an additional 244 shares during the period. WBI Investments LLC bought a new position in Carrier Global during the first quarter worth about $1,768,000. Team Hewins LLC increased its position in Carrier Global by 26.7% during the first quarter. Team Hewins LLC now owns 6,349 shares of the company’s stock worth $369,000 after acquiring an additional 1,336 shares during the period. Finally, Affinity Investment Advisors LLC bought a new position in Carrier Global during the first quarter worth about $200,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CARR. Barclays raised 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. TD Cowen raised 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. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Robert W. Baird raised 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. Finally, Oppenheimer raised 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 research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $64.14.

Insider Buying and Selling

In related news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total transaction of $306,124.29. Following the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at approximately $135,568.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total value of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 2,042 shares in the company, valued at approximately $135,568.38. The disclosure for this sale can be found here. Insiders have sold a total of 262,954 shares of company stock worth $16,650,050 in the last ninety days. Company insiders own 6.95% of the company’s stock.

Carrier Global Price Performance

Shares of CARR traded up $2.81 during mid-day trading on Thursday, reaching $66.41. The company had a trading volume of 4,800,204 shares, compared to its average volume of 4,481,384. The company’s 50 day simple moving average is $63.98 and its 200 day simple moving average is $59.10. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $66.92. The company has a market capitalization of $59.84 billion, a price-to-earnings ratio of 46.44, a P/E/G ratio of 2.46 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be given a dividend of $0.19 per share. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.14%. Carrier Global’s dividend payout ratio is presently 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.