EverSource Wealth Advisors LLC Decreases Holdings in Carrier Global Co. (NYSE:CARR)

EverSource Wealth Advisors LLC trimmed its position in shares of Carrier Global Co. (NYSE:CARR) by 18.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,457 shares of the company’s stock after selling 986 shares during the period. EverSource Wealth Advisors LLC’s holdings in Carrier Global were worth $274,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CARR. Vanguard Group Inc. increased its stake in Carrier Global by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after purchasing an additional 466,829 shares during the period. Capital Research Global Investors increased its stake in shares of Carrier Global by 3.3% during the fourth quarter. Capital Research Global Investors now owns 92,829,907 shares of the company’s stock valued at $5,333,084,000 after buying an additional 2,961,923 shares during the period. Capital International Investors increased its stake in shares of Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after buying an additional 17,021,768 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Carrier Global by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,307,231 shares of the company’s stock valued at $764,500,000 after buying an additional 310,453 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CARR. Barclays lifted their price target on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. TD Cowen lifted their price target on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $72.00 target price on shares of Carrier Global in a report on Friday, July 26th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global presently has an average rating of “Hold” and a consensus price target of $66.77.

Carrier Global Stock Down 3.1 %

Shares of CARR stock traded down $2.07 during mid-day trading on Friday, hitting $63.99. The company’s stock had a trading volume of 3,556,949 shares, compared to its average volume of 3,753,714. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09. The business has a 50-day moving average price of $64.64 and a 200 day moving average price of $60.27. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The stock has a market cap of $57.77 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 2.63 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $6.70 billion during 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%. Carrier Global’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. Research analysts predict that Carrier Global Co. will post 2.84 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Insider Activity at Carrier Global

In other Carrier Global news, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares in the company, valued at $5,560,831.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the company’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 sale, the chief accounting officer now owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Nadia Villeneuve sold 98,428 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares of the company’s stock, valued at approximately $5,560,831.20. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

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.