Welch & Forbes LLC Lowers Stock Holdings in Carrier Global Co. (NYSE:CARR)

Welch & Forbes LLC decreased its holdings in Carrier Global Co. (NYSE:CARR) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 183,094 shares of the company’s stock after selling 14,056 shares during the quarter. Welch & Forbes LLC’s holdings in Carrier Global were worth $10,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Carrier Global by 4.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 163,655 shares of the company’s stock worth $9,034,000 after acquiring an additional 6,600 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Carrier Global by 5.8% in the third quarter. Verdence Capital Advisors LLC now owns 10,401 shares of the company’s stock valued at $574,000 after purchasing an additional 569 shares during the period. BluePath Capital Management LLC acquired a new position in Carrier Global during the third quarter worth about $35,000. Brighton Jones LLC lifted its position in shares of Carrier Global by 9.1% during the 3rd quarter. Brighton Jones LLC now owns 4,830 shares of the company’s stock valued at $267,000 after acquiring an additional 402 shares during the period. Finally, Baystate Wealth Management LLC boosted its stake in shares of Carrier Global by 24.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 1,509 shares of the company’s stock worth $83,000 after acquiring an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

Shares of CARR traded up $0.20 during mid-day trading on Tuesday, hitting $64.26. The stock had a trading volume of 4,667,451 shares, compared to its average volume of 4,864,900. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The company has a market cap of $57.90 billion, a PE ratio of 44.94, a PEG ratio of 2.61 and a beta of 1.34. Carrier Global Co. has a fifty-two week low of $40.49 and a fifty-two week high of $64.69. The company’s fifty day simple moving average is $57.53 and its two-hundred day simple moving average is $55.24.

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

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a dividend of $0.19 per share. 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 is currently 53.15%.

Wall Street Analysts Forecast Growth

CARR has been the topic of several research reports. Wells Fargo & Company upped their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Oppenheimer boosted their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. 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. Robert W. Baird increased their price objective on shares of Carrier Global from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Citigroup upped their price target on shares of Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.71.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total value of $9,906,734.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction on Thursday, February 8th. The shares were 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 owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,005 shares of company stock worth $30,536,214. 6.95% of the stock is owned by insiders.

About Carrier Global

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.