Carrier Global Corporation $CARR Stock Purchased by Cullinan Associates Inc.

Cullinan Associates Inc. raised its stake in Carrier Global Corporation (NYSE:CARR) by 104.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,253 shares of the company’s stock after acquiring an additional 28,208 shares during the quarter. Cullinan Associates Inc.’s holdings in Carrier Global were worth $3,031,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CARR. Dynamic Advisor Solutions LLC boosted its stake in Carrier Global by 2.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,801 shares of the company’s stock valued at $426,000 after purchasing an additional 158 shares during the period. Brookstone Capital Management increased its position in Carrier Global by 3.2% during the 3rd quarter. Brookstone Capital Management now owns 6,192 shares of the company’s stock worth $340,000 after buying an additional 194 shares during the period. HORAN Wealth LLC increased its position in Carrier Global by 3.6% during the 1st quarter. HORAN Wealth LLC now owns 5,771 shares of the company’s stock worth $306,000 after buying an additional 200 shares during the period. Financial Management Professionals Inc. lifted its holdings in shares of Carrier Global by 53.5% during the third quarter. Financial Management Professionals Inc. now owns 588 shares of the company’s stock worth $32,000 after buying an additional 205 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of Carrier Global by 26.0% during the third quarter. Westside Investment Management Inc. now owns 994 shares of the company’s stock worth $55,000 after buying an additional 205 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Carrier Global Price Performance

Carrier Global stock opened at $52.44 on Friday. The stock’s fifty day moving average price is $55.87 and its two-hundred day moving average price is $61.68. Carrier Global Corporation has a one year low of $50.24 and a one year high of $76.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.68. The firm has a market cap of $42.91 billion, a PE ratio of -23.62, a price-to-earnings-growth ratio of 1.91 and a beta of 1.33.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, October 29th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. As a group, research analysts expect that Carrier Global Corporation will post 2.86 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Thursday, October 29th will be given a $0.24 dividend. The ex-dividend date is Thursday, October 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.8%. Carrier Global’s dividend payout ratio (DPR) is presently -43.24%.

Analyst Upgrades and Downgrades

CARR has been the subject of a number of recent research reports. Sanford C. Bernstein reduced their target price on shares of Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a research report on Wednesday, October 7th. Zacks Research lowered shares of Carrier Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Mizuho dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Robert W. Baird cut their price objective on shares of Carrier Global from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. Finally, The Goldman Sachs Group lowered shares of Carrier Global from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $74.00 to $61.00 in a research report on Wednesday, October 14th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.27.

Carrier Global Company Profile

Carrier Global Corporation develops and provides heating, ventilation, air conditioning and refrigeration systems, along with related building technologies. Its products and services serve residential, commercial and industrial customers, as well as applications that require temperature-controlled transportation and storage.

The company’s offerings include heating and cooling equipment, building automation and energy-management solutions, and fire and security systems. Its portfolio includes brands such as Carrier, Bryant and Kidde, and it provides installation, maintenance and other services to support its equipment.

Carrier traces its origins to 1915, when Willis Carrier founded the company that pioneered modern air conditioning.