Integrated Advisors Network LLC Acquires Shares of 5,268 Carrier Global Co. (NYSE:CARR)

Posted by Defense World Staff on Apr 24th, 2023

Integrated Advisors Network LLC bought a new position in shares of Carrier Global Co. (NYSE:CARR – Get Rating) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,268 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds also recently bought and sold shares of the company. Concord Wealth Partners bought a new stake in shares of Carrier Global during the 4th quarter valued at about $34,000. California Public Employees Retirement System grew its holdings in shares of Carrier Global by 20.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,910,832 shares of the company’s stock worth $67,949,000 after acquiring an additional 321,273 shares during the period. Armstrong Advisory Group Inc. bought a new position in shares of Carrier Global in the 4th quarter worth approximately $37,000. Gratus Capital LLC purchased a new position in shares of Carrier Global in the 4th quarter valued at approximately $207,000. Finally, MADDEN SECURITIES Corp bought a new stake in shares of Carrier Global during the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 85.21% of the company’s stock.

Carrier Global Price Performance

NYSE CARR opened at $45.22 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.20 and a current ratio of 1.64. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.93 and a beta of 1.32. The stock has a 50-day moving average of $44.80 and a 200 day moving average of $42.91. Carrier Global Co. has a one year low of $33.10 and a one year high of $49.17.

Carrier Global (NYSE:CARR – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Carrier Global had a net margin of 17.31% and a return on equity of 26.86%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Carrier Global Co. will post 2.55 EPS for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Friday, May 5th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.64%. Carrier Global’s dividend payout ratio (DPR) is currently 18.05%.

Insider Buying and Selling

In other Carrier Global news, VP Kyle Crockett sold 10,433 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $45.85, for a total value of $478,353.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Carrier Global news, VP Kyle Crockett sold 10,433 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $45.85, for a total transaction of $478,353.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Nadia Villeneuve sold 20,538 shares of Carrier Global stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $45.45, for a total transaction of $933,452.10. Following the transaction, the vice president now owns 48,900 shares in the company, valued at approximately $2,222,505. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CARR shares. Barclays decreased their price objective on Carrier Global from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, March 22nd. Mizuho reissued a “buy” rating and set a $53.00 price target on shares of Carrier Global in a research report on Wednesday, February 8th. Oppenheimer assumed coverage on shares of Carrier Global in a report on Monday, March 27th. They issued an “outperform” rating and a $51.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Carrier Global from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. Finally, Argus upped their price target on Carrier Global from $50.00 to $52.00 in a research note on Tuesday, February 14th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $49.20.

About Carrier Global

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Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.