Bessemer Group Inc. Grows Position in Carrier Global Co. (NYSE:CARR)

Posted by Defense World Staff on Jun 11th, 2023

Bessemer Group Inc. raised its holdings in shares of Carrier Global Co. (NYSE:CARR – Get Rating) by 26.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,275 shares of the company’s stock after purchasing an additional 7,565 shares during the period. Bessemer Group Inc.’s holdings in Carrier Global were worth $1,497,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CARR. Securian Asset Management Inc. lifted its position in shares of Carrier Global by 0.3% during the fourth quarter. Securian Asset Management Inc. now owns 68,649 shares of the company’s stock valued at $2,832,000 after buying an additional 223 shares during the last quarter. CFO4Life Group LLC grew its holdings in Carrier Global by 2.3% in the fourth quarter. CFO4Life Group LLC now owns 11,436 shares of the company’s stock worth $472,000 after purchasing an additional 258 shares during the last quarter. Sargent Bickham Lagudis LLC increased its position in shares of Carrier Global by 21.2% during the fourth quarter. Sargent Bickham Lagudis LLC now owns 1,483 shares of the company’s stock worth $61,000 after purchasing an additional 259 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in shares of Carrier Global by 11.3% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 2,610 shares of the company’s stock valued at $107,000 after purchasing an additional 265 shares during the last quarter. Finally, Proffitt & Goodson Inc. boosted its position in shares of Carrier Global by 3.7% in the 4th quarter. Proffitt & Goodson Inc. now owns 7,623 shares of the company’s stock worth $314,000 after purchasing an additional 272 shares in the last quarter. Institutional investors own 85.21% of the company’s stock.

Carrier Global Stock Down 0.7 %

CARR opened at $45.30 on Friday. The company has a fifty day moving average of $42.80 and a two-hundred day moving average of $43.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.70. Carrier Global Co. has a fifty-two week low of $33.10 and a fifty-two week high of $49.17. The stock has a market capitalization of $37.82 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.74 and a beta of 1.32.

Carrier Global (NYSE:CARR – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.05 billion. Carrier Global had a return on equity of 25.56% and a net margin of 12.02%. Carrier Global’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share. On average, research analysts expect that Carrier Global Co. will post 2.57 earnings per share for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, June 23rd will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, June 22nd. Carrier Global’s payout ratio is 25.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CARR. Deutsche Bank Aktiengesellschaft increased their price target on Carrier Global from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 12th. Argus upped their price target on shares of Carrier Global from $50.00 to $52.00 in a research note on Tuesday, February 14th. Morgan Stanley cut shares of Carrier Global from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $49.00 to $47.00 in a report on Thursday. Oppenheimer began coverage on shares of Carrier Global in a report on Monday, March 27th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, Barclays lowered their price target on Carrier Global from $50.00 to $48.00 in a research report on Friday, April 28th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.87.

Insider Activity

In related news, insider Jurgen Timperman sold 138,956 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $45.01, for a total transaction of $6,254,409.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

Carrier Global Company Profile

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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.