Rede Wealth LLC Takes Position in Carrier Global Co. (NYSE:CARR)

Rede Wealth LLC bought a new position in Carrier Global Co. (NYSE:CARR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,600 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently bought and sold shares of the business. Marathon Capital Management raised its holdings in Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares in the last quarter. Savant Capital LLC raised its stake in Carrier Global by 0.5% in the second quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after buying an additional 162 shares in the last quarter. Founders Capital Management LLC lifted its holdings in Carrier Global by 3.4% in the second quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after buying an additional 175 shares during the period. Valeo Financial Advisors LLC boosted its position in Carrier Global by 1.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 12,244 shares of the company’s stock valued at $986,000 after acquiring an additional 179 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Carrier Global by 4.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR traded up $0.11 during mid-day trading on Friday, reaching $81.55. The company’s stock had a trading volume of 2,306,975 shares, compared to its average volume of 4,130,647. The firm’s fifty day moving average price is $75.32 and its two-hundred day moving average price is $67.22. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $73.48 billion, a P/E ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a 12-month low of $45.68 and a 12-month high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data 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. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Carrier Global Co. will post 2.85 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Analysts Set New Price Targets

A number of research firms have recently commented on CARR. Robert W. Baird dropped their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Bank of America boosted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada increased their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Wolfe Research raised shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research note on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by corporate 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.