Bruce G. Allen Investments LLC Decreases Stock Holdings in Carrier Global Co. (NYSE:CARR)

by · The Markets Daily

Bruce G. Allen Investments LLC reduced its holdings in Carrier Global Co. (NYSE:CARR – Free Report) by 36.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371 shares of the company’s stock after selling 216 shares during the period. Bruce G. Allen Investments LLC’s holdings in Carrier Global were worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Wedmont Private Capital increased its position in shares of Carrier Global by 5.8% during the 3rd quarter. Wedmont Private Capital now owns 20,779 shares of the company’s stock valued at $1,671,000 after purchasing an additional 1,145 shares during the last quarter. Marcum Wealth LLC purchased a new position in Carrier Global during the third quarter worth $211,000. Greenhouse Wealth Management LLC bought a new position in Carrier Global during the third quarter valued at $212,000. Brookstone Capital Management raised its stake in shares of Carrier Global by 9.4% in the third quarter. Brookstone Capital Management now owns 5,999 shares of the company’s stock valued at $483,000 after acquiring an additional 513 shares during the period. Finally, Country Trust Bank bought a new stake in shares of Carrier Global in the 3rd quarter worth about $40,000. 91.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares in the company, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by company insiders.

Carrier Global Price Performance

Shares of CARR stock opened at $80.43 on Friday. The stock’s 50-day moving average is $73.19 and its 200 day moving average is $66.15. Carrier Global Co. has a 1-year low of $45.68 and a 1-year high of $82.16. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The company has a market cap of $72.47 billion, a P/E ratio of 56.24, a PEG ratio of 3.23 and a beta of 1.32.

Carrier Global (NYSE:CARR – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts predict that Carrier Global Co. will post 2.84 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.94%. Carrier Global’s payout ratio is 53.15%.

Wall Street Analysts Forecast Growth

CARR has been the topic of several recent analyst reports. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Wells Fargo & Company boosted their target price on shares of Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Robert W. Baird lowered their price objective on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $77.36.

View Our Latest Stock Report on Carrier Global

Carrier Global Profile

(Free Report)

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.

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