Pacific Capital Wealth Advisors Inc. Makes New $45,000 Investment in Carrier Global Co. (NYSE:CARR)

Pacific Capital Wealth Advisors Inc. bought a new position in shares of Carrier Global Co. (NYSE:CARR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 778 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 86.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Carrier Global in the fourth quarter valued at $25,000. OFI Invest Asset Management acquired a new position in Carrier Global in the third quarter valued at $28,000. Larson Financial Group LLC boosted its stake in Carrier Global by 76.2% in the third quarter. Larson Financial Group LLC now owns 511 shares of the company’s stock valued at $28,000 after acquiring an additional 221 shares in the last quarter. Finally, VisionPoint Advisory Group LLC acquired a new position in Carrier Global in the third quarter valued at $30,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CARR shares. TD Cowen raised their price target on Carrier Global from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Barclays raised their target price on shares of Carrier Global from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Oppenheimer increased their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada decreased their target price on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.71.

Carrier Global Stock Performance

NYSE CARR traded up $0.20 on Tuesday, hitting $64.26. 4,667,451 shares of the company’s stock were exchanged, compared to its average volume of 4,864,900. The firm has a market cap of $57.90 billion, a price-to-earnings ratio of 44.94, a P/E/G ratio of 2.61 and a beta of 1.34. The firm’s 50-day moving average price is $57.53 and its two-hundred day moving average price is $55.24. Carrier Global Co. has a fifty-two week low of $40.49 and a fifty-two week high of $64.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 0.99.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. On average, research analysts expect that Carrier Global Co. will post 2.85 EPS for the current year.

Carrier Global Dividend Announcement

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 issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insider Activity

In related news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction on Thursday, February 8th. The stock was 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 directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. In the last three months, insiders sold 541,005 shares of company stock worth $30,536,214. Company insiders own 6.95% of the company’s stock.

Carrier Global Company 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.