Cullen Investment Group LTD. Acquires Shares of 3,206 Carrier Global Co. (NYSE:CARR)

Cullen Investment Group LTD. bought a new position in shares of Carrier Global Co. (NYSE:CARR) during the 2nd quarter, Holdings Channel reports. The firm bought 3,206 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CARR. Keynote Financial Services LLC acquired a new position in Carrier Global during the 1st quarter valued at about $454,000. DekaBank Deutsche Girozentrale grew its position in shares of Carrier Global by 19.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,256,533 shares of the company’s stock worth $72,277,000 after buying an additional 207,615 shares during the period. Aurora Investment Counsel increased its stake in shares of Carrier Global by 2.0% in the 1st quarter. Aurora Investment Counsel now owns 40,483 shares of the company’s stock valued at $2,353,000 after acquiring an additional 798 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Carrier Global during the first quarter valued at approximately $42,000. Finally, Cetera Advisors LLC raised its holdings in Carrier Global by 48.2% in the first quarter. Cetera Advisors LLC now owns 67,181 shares of the company’s stock worth $3,905,000 after purchasing an additional 21,863 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carrier Global

In related news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total value of $6,437,191.20. Following the transaction, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the transaction, the chief accounting officer now owns 2,042 shares of the company’s stock, valued at $135,568.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $65.40, for a total transaction of $6,437,191.20. Following the completion of the transaction, the vice president now directly owns 85,028 shares in the company, valued at $5,560,831.20. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Carrier Global Stock Performance

Shares of CARR stock traded down $2.07 on Friday, reaching $63.99. The stock had a trading volume of 3,556,949 shares, compared to its average volume of 3,753,714. Carrier Global Co. has a 12 month low of $45.68 and a 12 month high of $70.09. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $57.77 billion, a price-to-earnings ratio of 44.75, a P/E/G ratio of 2.63 and a beta of 1.32. The firm’s 50-day moving average is $64.64 and its two-hundred day moving average is $60.27.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 EPS. On average, research analysts expect that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.19%. Carrier Global’s payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

CARR has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Barclays raised their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Baird R W raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Wells Fargo & Company boosted their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.77.

Carrier Global 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.