Hartline Investment Corp Purchases 2,577 Shares of Carrier Global Co. (NYSE:CARR)

Hartline Investment Corp raised its stake in shares of Carrier Global Co. (NYSE:CARR) by 58.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,983 shares of the company’s stock after acquiring an additional 2,577 shares during the period. Hartline Investment Corp’s holdings in Carrier Global were worth $401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Modera Wealth Management LLC increased its position in shares of Carrier Global by 19.4% during the third quarter. Modera Wealth Management LLC now owns 21,099 shares of the company’s stock worth $1,165,000 after acquiring an additional 3,430 shares during the period. Pinnacle Financial Partners Inc raised its holdings in shares of Carrier Global by 9.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,781 shares of the company’s stock worth $332,000 after purchasing an additional 476 shares during the last quarter. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Carrier Global during the fourth quarter worth $2,081,000. abrdn plc raised its holdings in shares of Carrier Global by 40.6% during the fourth quarter. abrdn plc now owns 751,661 shares of the company’s stock worth $43,183,000 after purchasing an additional 217,144 shares during the last quarter. Finally, AIA Group Ltd raised its holdings in shares of Carrier Global by 16.5% during the fourth quarter. AIA Group Ltd now owns 98,959 shares of the company’s stock worth $5,685,000 after purchasing an additional 14,003 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Down 0.7 %

Shares of CARR stock traded down $0.37 during trading hours on Wednesday, hitting $54.77. 5,189,280 shares of the company were exchanged, compared to its average volume of 4,726,724. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The business’s 50-day simple moving average is $56.34 and its two-hundred day simple moving average is $54.76. Carrier Global Co. has a one year low of $40.28 and a one year high of $60.87. The stock has a market capitalization of $49.30 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.26 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Sell-side analysts predict that Carrier Global Co. will post 2.82 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is currently 48.10%.

Insider Buying and Selling at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CARR shares. Wells Fargo & Company lowered their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Barclays increased their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lowered their price objective on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and set a $63.00 target price on shares of Carrier Global in a report on Thursday, April 18th. Finally, Citigroup increased their target price on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.15.

Carrier Global 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.