NorthCrest Asset Manangement LLC Has $5.63 Million Stock Holdings in Carrier Global Co. (NYSE:CARR)

Posted by Defense World Staff on Jul 10th, 2023

NorthCrest Asset Manangement LLC lifted its holdings in shares of Carrier Global Co. (NYSE:CARR – Free Report) by 210.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,952 shares of the company’s stock after buying an additional 83,306 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Carrier Global were worth $5,625,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Concord Wealth Partners bought a new stake in Carrier Global during the 4th quarter worth $34,000. Quadrant Capital Group LLC increased its stake in shares of Carrier Global by 35.7% in the fourth quarter. Quadrant Capital Group LLC now owns 11,676 shares of the company’s stock valued at $482,000 after buying an additional 3,070 shares during the period. Mather Group LLC. bought a new position in Carrier Global in the 4th quarter valued at approximately $359,000. Empirical Finance LLC boosted its position in Carrier Global by 4.9% during the 1st quarter. Empirical Finance LLC now owns 23,097 shares of the company’s stock worth $1,057,000 after buying an additional 1,073 shares during the period. Finally, Armstrong Advisory Group Inc. bought a new stake in Carrier Global during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 86.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CARR shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Carrier Global from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, April 12th. Oppenheimer assumed coverage on Carrier Global in a research note on Monday, March 27th. They issued an “outperform” rating and a $51.00 price objective on the stock. 1-800-FLOWERS.COM reissued a “maintains” rating on shares of Carrier Global in a research report on Thursday, April 27th. Wells Fargo & Company dropped their price target on shares of Carrier Global from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Finally, Barclays increased their price objective on shares of Carrier Global from $48.00 to $53.00 in a research report on Friday, June 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.20.

Insider Activity at Carrier Global

In related news, insider Jurgen Timperman sold 138,956 shares of the business’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 legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by insiders.

Carrier Global Stock Up 0.5 %

Carrier Global stock opened at $49.33 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. The firm’s fifty day moving average price is $44.79 and its two-hundred day moving average price is $44.39. The firm has a market capitalization of $41.18 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Carrier Global Co. has a 1-year low of $33.10 and a 1-year high of $50.17.

Carrier Global (NYSE:CARR – Free Report) last released its quarterly earnings results on Tuesday, April 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $5.27 billion during 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%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. On average, equities research analysts predict that Carrier Global Co. will post 2.57 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, June 23rd will be issued a dividend of $0.185 per share. The ex-dividend date is Thursday, June 22nd. This represents a $0.74 annualized dividend and a yield of 1.50%. Carrier Global’s dividend payout ratio (DPR) is currently 25.00%.

Carrier Global Profile

(Free Report)

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.