Carrier Global Co. (NYSE:CARR) Shares Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. grew its stake in shares of Carrier Global Co. (NYSE:CARR) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,957 shares of the company’s stock after acquiring an additional 794 shares during the period. Carrier Global accounts for 2.2% of Contravisory Investment Management Inc.’s holdings, making the stock its 6th largest position. Contravisory Investment Management Inc.’s holdings in Carrier Global were worth $10,460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CARR. Olistico Wealth LLC bought a new position in Carrier Global in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. increased its stake in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after acquiring an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new position in Carrier Global in the second quarter valued at approximately $32,000. Register Financial Advisors LLC bought a new position in Carrier Global in the first quarter valued at approximately $34,000. Finally, Rise Advisors LLC increased its stake in Carrier Global by 3,668.8% in the first quarter. Rise Advisors LLC now owns 603 shares of the company’s stock valued at $35,000 after acquiring an additional 587 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CARR. Royal Bank of Canada boosted their target price 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. Bank of America boosted their target price on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $74.00 in a report on Monday, June 24th. Oppenheimer lifted their price target on shares of Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Barclays lifted their price target on shares of Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.36.

Carrier Global Price Performance

Shares of NYSE:CARR opened at $80.43 on Friday. The company’s fifty day moving average price is $73.19 and its 200-day moving average price is $66.15. The firm has a market capitalization of $72.61 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global Co. has a one year low of $45.68 and a one year high of $82.16. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping 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 firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Carrier Global Co. will post 2.85 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.94%. Carrier Global’s dividend payout ratio is 20.27%.

Insider Transactions at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction dated 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 transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.